An analysis of the latest AMFI quarterly data shows that average ticket size of retail investors in equity funds was Rs.77,805 as on June 2018. We have included balanced funds and ETFs that track indices besides pure equity funds and ELSS in equity funds.
On the other hand, average ticket size of corporates and HNIs is Rs.79.68 lakh and Rs. 12.85 lakh, respectively.
Interestingly, average ticket size of all three categories of investors – retail, HNIs and corporates were higher in debt funds and liquid funds than equity funds. While the average ticket size of equity schemes was Rs. 1.66 lakh across all three categories, average ticket size of debt funds and liquid funds were Rs.7.82 lakh and Rs.37.28 lakh respectively.
|
Equity Oriented, Balanced & Other ETF |
Debt Oriented & Gilt |
Liquid/Money Market |
|
|
Corporates |
79,68,398 |
3,45,63,204 |
9,05,86,247 |
|
High Networth Individuals* |
12,84,897 |
23,16,959 |
27,23,164 |
|
Retail |
77,805 |
84,980 |
95,426 |
|
Total |
1,66,347 |
7,82,390 |
37,28,474 |
Source: AMFI
AMFI data further shows that equity assets had longer holding period than non-equity assets. Close to 29% of equity assets have been held for over 2 years compared to 22% of non-equity assets. In comparison, 26% of non-equity assets had holding period below a month compared to 10% of equity schemes. This divergence was due to lower corporate holding period in liquid funds and their exposure to arbitrage funds to avail taxation benefits.
In addition, AMFI data on folio count shows that mutual fund industry has added 3.18 crore folios in the last three years. The total folio count was 4.28 crore in June 2015 and 7.46 crore in June 2018. This is a rise of 74% in three years. Moreover, 83% of investor accounts were in equity schemes (equity oriented and balance funds) while 13% were in debt-oriented schemes and 1.8% were in liquid and money market schemes as on June 2018. Of the total 7.46 crore accounts, 7 crore were retail folios, 41.61 lakh were HNIs and 4.26 lakh were institutional investors.
