MFs equity folio count rises 29 lakh in Apr-Jul FY18
Equity mutual funds witnessed an addition of over 29 lakh investor accounts or folios in the first four months of the ongoing fiscal, primarily on account of strong participation from retail investors.
This is on top of an addition of 48 lakh folios in the entire past fiscal, 43 lakh folios in 2015-16 and 25 lakh in 2014-15. In the past two years, investor accounts increased mainly due to robust contribution from smaller towns.
The rise in folio numbers comes at a time when the benchmark indices -- Sensex and Nifty -- have been hovering at historical highs.
According to data from Association of Mutual Funds in India (AMFI) on total investor accounts with 42 active fund houses, the number of equity folios rose to 4,37,69,430 at the end of July, from 4,08,26,211 in March-end, a gain of 29.43 lakh.
SIP accounts cross 1.5 crore mark
According to AMFI data, Indian mutual funds now have currently about 1.52 crore (15.2 million) SIP accounts through which investors regularly invest.
AMFI data shows that the MF industry has added about 8.23 lacs SIP accounts each month on an average during FY 2017-18, with an average SIP size being Rs 3,250 per SIP account.
During FY 16-17, a total of Rs 43,921 crore was collected through SIP. SIP has been gaining popularity among Indian MF investors as it helps in rupee cost averaging and also in investing in a disciplined manner without worrying about market volatility and market timing.
Source: PTI, AMFI, Value Research
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