What does NFO mean in business?

Answer 1

For mutual funds, NFO can often stand for New Fund Offering. This refers to a situation where a new mutual fund is launched and investors can start buying units of the fund. The fund manager will then use the proceeds arising from the sale of the fund units towards buying the actual assets of the mutual fund as described in the fund's prospectus.

For example, XYZ launched a NFO for a S&P 500 index fund and subsequently sold $50 million worth of units. The fund manager would then take the $50 million dollars and then purchase the stocks that compose the S&P 500.

Answer 2

NFO is also sometimes used as an initialism for "Not Front Office", often to conceal discrimination.
If you deal with computer files often then...
.nfo is a filename extension for de-facto standard info text files accompanying compressed software legally or illegaly distributed via BBSes and floppy disks.
.nfo is a filename extension used for Folio Infobase data files