Axis MF has added 1.56 lakh folios since November 2009 while JPMorgan, ING Investments and HSBC MF have seen their folios dwindling

Equity funds have lost 2.87 lakh investor accounts between November 2009 and May 2010 when the mutual fund (MF) industry witnessed the launch of 10 new equity funds in the same period. Reliance Mutual Fund has lost the most accounts in its equity schemes. Its folios decreased from 63.89 lakh in November 2009 to 61.06 lakh in May 2010, a decline of 2.83 lakh folios. Similarly, L&T MF, Franklin Templeton and Tata MF have seen their aggregate equity folios dropping by 3.27 lakh in the same period.

Folios are numbers designated to the investor accounts. Each investor can have multiple accounts.
The 37 fund houses lost around 2.87 lakh folios in equity schemes from November 2009 to May 2010.

The 30-share Bombay Stock Exchange (BSE) Sensex has remained flat between November 2009-May 2010. 
According to the data available on the Association of Mutual Funds in India (AMFI) website, 19 fund houses have lost an average 8% of their folios since November 2009. Axis MF had 491 folios in November 2009, which increased to 1,56,971 folios at the end of May 2010. Among the larger fund houses, HDFC Asset Management Co Ltd, UTI Asset Management Company Ltd and Birla Sun Life Asset Management Co Ltd together added 6.53 lakh investor accounts since November 2009.

Tata Asset Management Ltd, SBI Funds Management Pvt Ltd, Reliance Capital Asset Management Ltd, LIC Mutual Fund Asset Management Co Ltd, ICICI Prudential and Franklin Templeton together lost 5.81 lakh investor accounts in the same period. 

The 37 fund houses added just 49,153 folios between November 2009 and May 2010. — Moneylife Digital Team