Transcript: No. When you invest in a mutual fund, all you have is its past track record. This is not so much about what kind of return it has given in the past but primarily how it has behaved at different points of time, so you are prepared for what this fund has done and what principles it follows.
When it comes to a new fund, you do not know anything about it. Unless there is a special kind of fund which was not available to investors before, NFOs are avoidable.