The addition comes
after mutual fund (MF) houses lost nearly 33 lakh investors account in the
entire last fiscal (2014-14).
Driven by addition in
equity mutual fund folios, MF houses have registered a surge of close to nearly
2 lakh investor accounts or / folios in the first 7 months of the current
fiscal (2014-15).
The addition comes
after fund houses lost nearly 33 lakh investors account in the entire last
2014-14 fiscal.
Folios are numbers
designated to individual investor accounts, though one investor can have
multiple folios.
According to the
Securities and Exchange Board of India (SEBI) data on total investor accounts with
45 fund houses, the number of folios rose to about 3.97 crore at the end of
October 31, 2014 from 3.95 crore in the last fiscal (2013-14), registering a
gain of 1.97 lakh.
Giving the reason for
such rise in retail folios, MF industry officials said the growth is mainly due
to addition in equity mutual fund folios, which was supported by sharp rally in
the stock markets.
Besides, the fund
houses have clocked Rs. 1.55 lakh crore net inflows in various schemes during
2014 April to -October period, which helped the industry grow its folio count.
The BSE index,
SENSEX, surged by about 25% during the period under review on hopes of economic
reforms by the new central government.
The equity mutual
fund category saw an addition of more than seven lakh folios to 2.99 crore
investors at the end of October 31, 2014. The segment saw first rise in folios
in the month of April (2014) after reporting a consistent decline in investors
account in last 4 years.
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