MF equity folio count up by 16 lakh during Apr-Jan
16/02/2015 08:13
Equity mutual funds witnessed an addition of over 16 lakh investor accounts or folios in the first 10 months of the current fiscal (2014-15) in view of a 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, the number of equity folios rose to 30,799,002 last month, from 29,180,922 for the whole of last fiscal ending (March 31, 2014) - a gain of 16,18,080 folios. April saw the first rise in more than four years. Prior to that, the equity mutual fund (MF) sector had seen a continuous closure of folios since March 2009 after the market crashed due to the global financial crisis in late 2008. Since March 2009, it has seen a closure of 1.5 crore folios. The investor base reached its peak of 4.11 crore in March 2009, while it was 3.77 crore in March 2008. Moreover, mutual funds industry reported net inflows of nearly Rs 56,000 crore in equity funds in the April-January period, which helped the industry grow its folio count. Overall, the industry retail folios surged to 4.07 crore at January-end 2015 from 3.95 crore at the end of March.
16/02/2015 08:13
Equity mutual funds witnessed an addition of over 16 lakh investor accounts or folios in the first 10 months of the current fiscal (2014-15) in view of a 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, the number of equity folios rose to 30,799,002 last month, from 29,180,922 for the whole of last fiscal ending (March 31, 2014) - a gain of 16,18,080 folios. April saw the first rise in more than four years. Prior to that, the equity mutual fund (MF) sector had seen a continuous closure of folios since March 2009 after the market crashed due to the global financial crisis in late 2008. Since March 2009, it has seen a closure of 1.5 crore folios. The investor base reached its peak of 4.11 crore in March 2009, while it was 3.77 crore in March 2008. Moreover, mutual funds industry reported net inflows of nearly Rs 56,000 crore in equity funds in the April-January period, which helped the industry grow its folio count. Overall, the industry retail folios surged to 4.07 crore at January-end 2015 from 3.95 crore at the end of March.
