Investors need handholding support of advisors, be they MF distributors or RIAs. The latest CAMS data which covers 67% of the industry’s AUM shows that of the total 1.62 lakh new folios created in direct plans, RIAs have added 47% or 76,611 folios in March 2019.
Equity
In March, 1.50 lakh new folios were created in direct equity funds – 96,124 folios in T30 cities and 54,627 in B30 cities. Of these, RIAs created 68,462 new folios in equity funds – 40,011 in T30 cities and 28,451 in B30 cities.
Debt
The count of new folios in direct debt funds stood at 11,343 in March – 7,763 in T30 cities and 2,670 in B30 cities.
RIAs account for 8,149 new folios across India – 5,479 folios came from T30 cities and the remaining 2,670 from B30 cities.
Experts attribute the increase in the number of new folios to the rise in the number of RIAs, especially apps such as ET Money and Paytm Money. They said that many investors prefer operational convenience offered by such platforms.
