Fall in equity prices has slowed profit taking by retail investors in mutual fund schemes; The closure of folios in the last four months was at an average of 22,750 per month, significantly down from 1,64,290 folios per month in the first half of 2010-11
Mumbai: Mutual fund investors closed more than a million investment accounts during the 10 months ended January 31, 2011. The pace of closure of investment accounts, however, slowed in the subsequent four months from October 2010 to January 2011.
A total of 10, 76,767 investment accounts or investor folios were closed during the first 10 months of the current financial year. The closure of investment accounts was higher during April-September 2010 when the number of folios reduced by 9, 85,743.
