Since September 2014, retail investors have been increasingly investing in mutual funds as their folio increased 13% to 4.37 crore in 2015. Equity-oriented funds got the lion’s share of retail folios despite the fact that the Nifty closed the year down 4%. The ticket size for equity-oriented funds is R1,20,850 per account, however, the average ticket size is higher for liquid and debt-oriented schemes, dominated by institutional investors. Equity assets have a longer average holding period as compared to non-equity assets as 37% of equity assets are held for over 24 months. Folio closures in gold ETFs continued for the fourth consecutive quarter because of subdued gold prices.