Entry loads, exit investors

The Indian stock market today is moribund. The Sensex is around 17500. Three years ago, it was at the same level. The initial public offering (IPO) market is almost dead. In the 12 months ended March 31, 2012, just nine new equity fund offers were launched — the lowest for any 12-month period since March 2003. Money is flowing out of mutual funds while savings in the banks are swelling.

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