MF accounts dip by 10 lakh in April-June period
15 July 2013 10:22 PM GMT
Mutual funds lost 10 lakh investors, measured in terms of individual accounts or folios, in April-June 2013-14 mainly due to profit booking and various merger schemes in the industry.
Folios are numbers designated to individual investor accounts, although one investor can have multiple folios. According to the Sebi data on total investor accounts with 44 fund houses, the number of folios fell to around 4.18 crore at the end of June 2013, from 4.28 crore in the last fiscal (2012-13).
Market participants attributed the sharp fall in number of folios to profit booking and various merger schemes in the mutual fund industry. During the April-June period of 2013, the number of investor folios for equity schemes fell by 11 lakh. The total number of folios in equity funds were 3.20 crore in June against 3.31 crore at March end.
Folios are numbers designated to individual investor accounts, although one investor can have multiple folios. According to the Sebi data on total investor accounts with 44 fund houses, the number of folios fell to around 4.18 crore at the end of June 2013, from 4.28 crore in the last fiscal (2012-13).
Market participants attributed the sharp fall in number of folios to profit booking and various merger schemes in the mutual fund industry. During the April-June period of 2013, the number of investor folios for equity schemes fell by 11 lakh. The total number of folios in equity funds were 3.20 crore in June against 3.31 crore at March end.
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