Showing a growing traction for mutual funds among investors, the number of folios has grown by nearly 16 lakh in the first four months of the ongoing fiscal to a record 4.92 crore, primarily on account of participation from retail investors. This follows an addition of 59 lakh folios or investors' accounts in the preceding financial year (2015-16) and 22 lakh in 2014-15. Folios are numbers designated for individual investor accounts though one investor can have multiple accounts. According to the Securities and Exchange Board of India (Sebi) data on investor accounts with 42 fund houses, the number of folios jumped to 4,92,37,194 at the end of July from 4,76,63,024 at the end of last fiscal, a gain of 15.74 lakh. Growing participation from retail investors and huge inflows in equity schemes have helped in increasing the folio counts, experts said. "The growth is seen mostly in debt and liquid folios while equity folios has grown by two per cent. The debt segment has done well in recent past and is further expected to do well in the future too," Quantum MF Head (Customer Delight) Harshad Chetanwala said.
Read more at: Mutual Fund folio count rises to record 4.92 cr in July - Moneycontrol.com
Read more at: Mutual Fund folio count rises to record 4.92 cr in July - Moneycontrol.com