It’s 3 cheers for the equity Mutual Fund schemes with 7 lakh folios added in this financial year.
As per the Securities and Exchange Board of India’s data on investor accounts with 45 fund houses, the number of equity folios have risen from 2,91,80,922 to 2,9917,974 in October end. This proves a net gain of 7,37,052 folios from April to October.
With the first rise in the month of April, after four years, the additions have come at a time when the market was at a new high. On the other hand, the equity Mutual Funds sector has continuously seen a low since 2009 when the markets had crashed. Since March 2009, the sector has seen a closure of a whopping 1.5 crore folios (numbers designated to individual investor accounts).
As per the Securities and Exchange Board of India’s data on investor accounts with 45 fund houses, the number of equity folios have risen from 2,91,80,922 to 2,9917,974 in October end. This proves a net gain of 7,37,052 folios from April to October.
With the first rise in the month of April, after four years, the additions have come at a time when the market was at a new high. On the other hand, the equity Mutual Funds sector has continuously seen a low since 2009 when the markets had crashed. Since March 2009, the sector has seen a closure of a whopping 1.5 crore folios (numbers designated to individual investor accounts).
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