Over 200 schemes have been floated by various mutual funds in the past seven years. Scores of investors prefer New Fund Offer (NFO) over the existing one on the grounds of better value. However, in an investment ecosystem, a Rs 10 face value is not cheaper than the fund trading at the Net Asset Value (NAV) of Rs 20. An NFO cannot be equated with the IPO of the stock where price fluctuations can be as high as 50 - 80 per cent.