MF equity folio count rises by 8.4 lakh in first 8 months of FY15
23/12/2014 14:48
Equity mutual funds saw an addition of over 8.4 lakh investor accounts or folios in the first eight months of the current fiscal (2014-15) amid sharp rally in the stock market, said the media report.
Folios are numbers designated to individual investor accounts, though one investor can have multiple folios.
According to Securities and Exchange Board of India data on investor accounts with 45 fund houses, number of equity folios rose to 3,0,024,747 at last month-end from 2,91,80,922 for the whole of last fiscal ending (March 31, 2014), registering a gain of 8,43,825 folios till November period of this fiscal.
The additions came at a time when the market was scaling new highs. The addition in equity folios is in line with BSE's benchmark Sensex surging by 28 per cent in the first eight months of the current financial year, added the media report.
Moreover, mutual funds industry reported net inflows of nearly Rs 44,000 crore in equity funds in the April-November period of the current fiscal (2014-15), which helped the industry grow its folio count.
Overall, the industry retail folios surged to 3.99 crore at November-end from 3.95 crore at the end of March, added the media report.
23/12/2014 14:48
Equity mutual funds saw an addition of over 8.4 lakh investor accounts or folios in the first eight months of the current fiscal (2014-15) amid sharp rally in the stock market, said the media report.
Folios are numbers designated to individual investor accounts, though one investor can have multiple folios.
According to Securities and Exchange Board of India data on investor accounts with 45 fund houses, number of equity folios rose to 3,0,024,747 at last month-end from 2,91,80,922 for the whole of last fiscal ending (March 31, 2014), registering a gain of 8,43,825 folios till November period of this fiscal.
The additions came at a time when the market was scaling new highs. The addition in equity folios is in line with BSE's benchmark Sensex surging by 28 per cent in the first eight months of the current financial year, added the media report.
Moreover, mutual funds industry reported net inflows of nearly Rs 44,000 crore in equity funds in the April-November period of the current fiscal (2014-15), which helped the industry grow its folio count.
Overall, the industry retail folios surged to 3.99 crore at November-end from 3.95 crore at the end of March, added the media report.
