MFs report 29.41 lakh drop in folios in Apr-Jan

India Infoline News Service | Mumbai |

During April-January, the number of investor folios in equity schemes fell to 2.96 crore at the end of January 2014 from 3.32 crore at March 2013

Mutual fund industry has lost 29.41 lakh individual accounts or folios during April 2013 to January 2014 due to profit-booking and various merger schemes, according to SEBI data.
Among 45 fund houses, the number of folios fell to around 3.99 crore at the end of January 2014 from 4.28 crore in FY13. Folios are numbers designated to individual investor accounts. However, one investor can have multiple folios.
During April-January, the number of investor folios in equity schemes fell to 2.96 crore at the end of January 2014 from 3.32 crore at March 2013.
According to SEBI data, the total number of folios in debt funds rose about 5.8 lakh to 67.18 lakh at the end of January this year. Besides, balanced schemes, which invest in equity and debt category, gained 37,614 folios to 26.40 lakh.
 

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