Mutual Funds Added 3.45 Lakh New Folios in September

Mutual Funds Added 3.45 Lakh New Folios in September

What is Folio?

Folio is also known as individual investors’ accounts. If an investor invests in mutual funds, the AMC provides folio numbers. One can easily identify investors’ funds by using the investor folio number. It also saves other details of investors such as investor’s invest amount, transaction history, contact details. Each one can maintain several folios. According to the reports, mutual funds added 3.45 lakh new folios in September. 

According to the reports, mutual funds have a total of 8.56 crore folios in volatile market conditions. In August, mutual funds added 5 lakh folios and 10 lakh folios in July. As of the Association of Mutual Funds in India analysis, 44 mutual fund houses raised 8,56,26,244 in September. In August, the individual investor’s accounts stood at 8,53,81,222 crore. 

A source said that the addition of folios suggests that investors were confident by the market volatility. It also cleared that investors could understand the market risk associated with the mutual fund schemes. 

 Mutual Funds Added 3.45 Lakh Folios In September 

By the last month, Bombay Stock Exchange benchmark Sensex raised 3.6 percent. At the same time, Equity and ELSS( equity-linked savings schemes) raised by 2 lakhs to 6.18 percent. Moreover, debt oriented schemes and liquid funds folio raised by 92,000 to 67.67 lakhs and 17 lakhs respectively. Moreover, low duration funds stood at 9.25 lakhs. 

On the other hand, mutual funds witness a redemption of Rs 1.52 lakh crore in September as compared to an inflow of Rs 1.02 lakh crore in August. debt-oriented schemes observed an outflow of Rs 1.58 lakh crore. In September,  equity mutual funds saw a net inflow of Rs 6,489 crore. 

According to the report, the outflow has pulled down the asset base of the mutual fund industry, comprising 44 players, by 4 percent to Rs 24.51 lakh crore by end of September. It stood at Rs 25.47 crore at the end of August.

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