70 Lakh Accounts Opened In Mutual Funds In 5 Months

Due to increasing digitization and awareness, 70 lakh new accounts have been opened in the mutual fund industry in the last five months. With this, the total number of accounts has gone up to 13.65 crores till August, which was 12.95 crores till March. A total of 3.17 crore accounts or folios were opened in 2021-22 and 81 lakh accounts in the year before that.

According to the data of the Association of Mutual Funds in India (Amfi), this effect is also visible in mutual funds due to the arrival of new investors in the stock market. According to experts, at the time of Corona, people inculcated the habit of saving and at the same time resorted to systematic investment plans. Also, money from traditional investment instruments is now being invested in mutual funds.

As per the data, a total of 43 mutual fund companies had 10 crore accounts in May 2021. On that basis, it has increased by more than three crores. The folio of retail investors stood at 55.2 percent till March, which rose to 56.6 percent in August. The attractiveness of investors in the equity market had increased due to the huge boom in the stock market after Corona. The Indian markets have outperformed the world markets even after the recent downtrend.

According to the data, a total of 73 lakh investors were involved in 2019-20. 1.13 crore in 2018-19, 1.6 lakh in 2017-18, 67 lakh in 2016-17 and 59 lakh in 2015-16. Most of the investors have been in equity, hybrid, and solution-focused funds. The maximum investment in this has been done by retail investors whose number was 10.85 crores. The total Asset under management (AUM) of the industry is Rs 39.5 lakh crore.