Mutual funds add 70 lakh investor A/c’s in Apr-Aug

With increase in digital access and growing awareness about mutual funds, asset management companies (AMCs) have added close to 70 lakh investor accounts in the first five months of the current fiscal, bringing the total to 13.65 crore.

This came following an addition of 3.17 crore investor accounts in 2021-22 and 81 lakh accounts (or folios in mutual fund parlance) in 2020-21, data with the Association of Mutual Funds in India (Amfi) showed.

The sharp increase in mutual fund (MF) folio count implies that a lot of new investors are coming into the capital markets and are embracing mutual funds as their preferred vehicle for investing.

As per the industry data, the top contributing states towards the industry’s Rs 39.5 lakh crore assets under management (AUM) are — Maharashtra, New Delhi, Gujrat, and Karnataka. Also, there is a strong traction of investors from smaller towns investing in mutual funds.