Equity MF accounts up by 20 lakh during Apr-Feb
16/03/2015 15:18
Equity mutual funds witnessed an addition of 20 lakh investor accounts or folios during the April-February period of the current fiscal (2014-15) on account of a sharp rally in stock markets, reported PTI.
Folios are numbers designated to individual investor accounts, though one investor can have multiple folios.
As per latest data on investor accounts with 45 fund houses, the number of equity folios rose to 3.14 crore last month, from 2.94 crore during the full fiscal 2013-14, a gain of 20 lakh folios.
April saw the first rise in folio count 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 in late 2008 due to the global financial crisis.
Since March 2009, the sector 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.
Industry experts said a strong rally in equity markets and the consequent rise in investors' interest led to a sharp increase in retail folios.
Since early 2014, equity market sentiment took a positive turn, which generated significant interest from overseas investors. This was mainly on account of expectations from the new government at the Centre, leading to stock markets adopting a bullish tone.
16/03/2015 15:18
Equity mutual funds witnessed an addition of 20 lakh investor accounts or folios during the April-February period of the current fiscal (2014-15) on account of a sharp rally in stock markets, reported PTI.
Folios are numbers designated to individual investor accounts, though one investor can have multiple folios.
As per latest data on investor accounts with 45 fund houses, the number of equity folios rose to 3.14 crore last month, from 2.94 crore during the full fiscal 2013-14, a gain of 20 lakh folios.
April saw the first rise in folio count 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 in late 2008 due to the global financial crisis.
Since March 2009, the sector 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.
Industry experts said a strong rally in equity markets and the consequent rise in investors' interest led to a sharp increase in retail folios.
Since early 2014, equity market sentiment took a positive turn, which generated significant interest from overseas investors. This was mainly on account of expectations from the new government at the Centre, leading to stock markets adopting a bullish tone.
