Equity MFs accounts fall 1.1mn in April-June 2013

India Infoline News Service | Mumbai |

In the April-June period of 2013, the number of investor folios for equity schemes fell by 1.1 million.

The number of folios fell to around 41.8 million at the end of June 2013 as against 42.8 million in the last fiscal (2012-13), according to the SEBI (Securities and Exchange Board of India) data on number of schemes and folios.

At present, there are over 44 AMCs (asset management companies). During the April-June period of 2013, the number of investor folios for equity schemes fell by 1.1 million. The total number of folios in equity funds were 32 million at the end of June as against 33.1 million at March end.

A folio number in mutual funds is a unique number identifying your account with the fund. Like a bank account number, the folio number can be used as a way to uniquely identify fund investors and keep records of items such as how much money each investor has placed with the fund, their transaction history and contact details.

Folios are numbers given to individual investor accounts, although one investor can have multiple folios.

 

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