Indian Mutual funds: total to an all-time high of 7.46 crore at the end of June, 2018


Indian Mutual funds: total to an all-time high of 7.46 crore at the end of June, 2018

Growing investor interest in mutual funds has led to an addition of about 33 lakh new folios in the first quarter of the current fiscal (2018-19), taking the total to an all-time high of 7.46 crore at the end of June.

This follows an addition of 1.6 crore investor accounts in the entire 2017-18, over 67 lakh folios in 2016-17 and 59 lakh in 2015-16. Folios are numbers designated to individual investor accounts, though an investor can have multiple accounts.

According to data from AMFI on the total investor accounts with 42 fund houses, the number of folios rose to a record 7,46,24,230 at the end of June, 2018, up from 7,13,47,301 at the end of March 2018, a gain of 32.77 lakh.

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