FY15 turned out to be an outstanding year for the mutual fund industry, with a 31% jump in average assets under management (AAUM), coupled with strong inflows into equity funds and surge in number of folios.
The latest data from Securities and Exchange Board of India (Sebi) shows that, mutual fund industry added 25.10 lakh folios in equity oriented schemes in FY15. Overall, the industry saw folio count rise by 21.91 lakh during the last fiscal. At the end of FY15 total folios of equity oriented schemes stood at 3.16 crore, while that of the industry was at 4.17 crore, according to latest data from Sebi.
Nilesh Sathe, CEO at LIC Nomura Management Company (AMC) says, “Before FY15, there was a complete lull in both equity inflows and generation of new folios. But in the last one year, equity markets gave returns of around 30%, while several funds gave more then the index returns. This brought retail interest back into equities and they started participating through mutual funds.” In the month of March alone, equity oriented schemes added around 5.10 lakh folios.
Income and debt oriented schemes too saw rise in the folios. Total folios in income and debt oriented schemes for FY14 was at 68.67 lakh which rose to 72.12 lakh in FY15, a surge of 3.44 lakh folios.