Driven by addition in equity fund folios, mutual fund houses have registered a surge of more than 29 lakh investor accounts in the first six months of the current fiscal, taking the total tally to surpass 5 crore mark.
This is on top of an additional 59 lakh folios in 2015-16 and 22 lakh in 2014-15. Folios are numbers designated to individual investor accounts, though one investor can have multiple folios.
According to the data from the Association of Mutual Funds in India (Amfi) on total investor accounts with 43 fund houses, the number of folios rose to a record 5,05,59,495 at the end of last month from 4,76,63,024 in March-end, a gain of of 28.96 lakh.
Growing participation from retail investors, especially from smaller towns and huge inflows in equity schemes have helped in increasing the overall folio counts, experts said. The equity category witnessed an addition of more than 15 lakh investor folios to 3.75 crore in April-September period of the current fiscal.
Mutual funds have reported a net inflow of Rs over 22,000 crore in equity schemes in the first half of the current fiscal. Overall, funds have seen an infusion of Rs 2.34 lakh crore. The inflow is in line with the Sensex surging 10 per cent during the period under review.