MF folio count climbs by 77 lakh to record 5.54 crore in FY17

Mutual fund houses added over 77 lakh investor accounts in 2016-17, taking the total tally to a record 5.54 crore on growing interest of retail as well as HNI investors. In comparison, 59 lakh folios were added in the preceding fiscal. In the last two years, investor accounts have increased following robust contribution from smaller towns. Folios are numbers designated to individual investor accounts, though an investor can have multiple ones.