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Hit hard by the mass exodus of investors, amounting to an average of over one lac a month, the mutual fund houses are knocking on the doors of SEBI, which in turn is mulling over possible remedial actions including an expanded distribution model for these investment products. Over four lac investors are estimated to have closed their mutual fund accounts, as determined by the change in the number of mutual fund folios in the past three months, largely driven by redemption in equity-focused mutual fund schemes.
Is this a sign of investor education — where they’re unloading all those dud schemes with fancy names and fancier investment methodologies?
What do you think?
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