The industry has added 48,577 folios in equity funds in July, shows SEBI data.
Buoyed
by the healthy inflows in equity funds, the mutual fund industry has managed to
grow its investor base too in equity funds by adding 48,577 folios in July. The
industry clocked a record gross sales of over Rs. 17,000 crore in equity funds in July. A large chunk of inflows have also come in arbitrage funds.
Since May 2014, the industry has added close to 94.000 folios in equity funds.
Experts attribute this increase in folio count to equity market rally and the resultant inflows in equity funds. The S&P BSE Sensex was up 481 points in July.
The existing equity funds saw a net inflow of Rs.16,908 crore whereas new funds mopped up Rs. 254 crore in July. This was made possible largely due to a fall in redemption and fresh inflows in existing as well as new schemes.
The total investor count in equity funds stands at 2.93 crore now.
SEBI data shows that the industry has gained close to 50,000 folios across all scheme categories in July 2014. The folio count has increased to 3.91 crore in July.
However, due to revision in taxation of debt mutual funds, this category saw a moderate decline in investor accounts. Close to 2,800 folios were lost in debt funds in July.
Likewise, balanced funds and other ETFs saw a marginal increase in folios count in July. Both the categories have added close to 11,500 folios.
Mutual fund folio count as on July, 2014
