MF accounts fall by 13 lakh in April-July
17 Sept 2013 3:59 AM IST
Mutual funds lost more than 13 lakh investors, measured in terms of individual accounts or folios, in the first four months of the current fiscal, mainly due to profit booking and various merger schemes.
According to market regulator Sebi's data on total investor accounts with 44 fund houses, the number of folios fell to around 4.15 crore at the end of July 2013, from 4.28 crore in the last fiscal (2012-13).
Folios are numbers designated to individual investor accounts, although one investor can have multiple folios. Market participants attributed the sharp fall in number of folios to profit-booking and various merger schemes in the mutual fund industry, among other reasons. During the April-July period of 2013, the number of investor folios for equity schemes fell by over 14 lakh.
According to market regulator Sebi's data on total investor accounts with 44 fund houses, the number of folios fell to around 4.15 crore at the end of July 2013, from 4.28 crore in the last fiscal (2012-13).
Folios are numbers designated to individual investor accounts, although one investor can have multiple folios. Market participants attributed the sharp fall in number of folios to profit-booking and various merger schemes in the mutual fund industry, among other reasons. During the April-July period of 2013, the number of investor folios for equity schemes fell by over 14 lakh.
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