Overall, the industry registered a dip of more than three lakh folios.
SEBI data reveals that equity funds lost 4.86 lakh folios in the last two months. There were 3.76 crore folios as on March 212, which fell to 3.71 crore in May 2012. Equity assets also fell 6% from Rs 1.82 lakh crore to Rs 1.70 lakh crore in May 2012. The BSE Sensex fell 7% from 17,404 to 16,219 in May 2012.
Industry officials say that SIP redemptions and folio consolidation are the main reasons behind the drop in equity folios.
The income and debt fund category saw an increase of 1.73 lakh folios. ETF folios were up by 29,876 largely because of a spurt in gold ETF folios. Gold ETFs alone added 25,288 folios while equity ETFs added 4,588 folios. The gold ETF category saw net redemption of Rs 41 crore in May due to concerns on the future performance of gold. Currently there are 14 gold ETFs listed in the industry.
Overall the industry registered a dip of more than three lakh folios.
Folios
|
Type |
Folios as on March 2012 |
Folios in May 2012 |
Change |
|
Income/Debt |
5250084 |
5423514 |
173430 |
|
Equity |
37647466 |
37160606 |
-486860 |
|
Balanced |
2718851 |
2703475 |
-15376 |
|
ETFs |
623757 |
653633 |
29876 |
|
Fund of Funds investing overseas |
211906 |
208476 |
-3430 |
|
Total |
46452064 |
46149704 |
-302360 |
