The number of fixed maturity plans (FMP) in the mutual funds industry has declined, per AMFI data, due to fewer new launches in recent times. But despite giving an almost assured return, why aren't as many FMPs around these days as before? Low interest rate is one reason. Since these are almost passive funds and come with a lock-in (mostly 3 years), there aren't too many compelling options. Indexation benefits are also available to open-ended debt funds and they can manage better in this environment as they are actively managed. Locking your money for three years in low interest rate regime can be unattractive. Besides, FMPs aren't remunerative for AMCs, especially when investment options are few.