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On September 27, 2007, the BSE Sensex had hit the 17000 level (on closing basis) for the first time. The index has been lingering thereabout even 5 years later in 2012 without any real movement. Grievous fall of the market for the reasons now known even to the most reluctant investor took the index to 8000 levels in March 2009. However dramatic recovery happened thereafter, rekindled the aspiration of wealth creation among investors but unfortunately it didn't last long as the range bound markets frustrated them over and over again. It was quite a crucial phase for mutual funds as they got no real support from the market which tested the fund management abilities of fund managers. Some funds have made their fortunes while others have lost their charisma. The total folios held by retail investors under all equity oriented schemes put together, in March 2012 were 9.4% lesser than the number of folios held by them in March 2009. Clearly the investors' interest is drying but their |
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