New Delhi: The mutual fund industry has added 3.45 lakh investor accounts in September, taking the total tally to 8.56 crore, amid volatile market conditions.
In comparison, the industry had added 4.8 lakh new folios in August and more than 10 lakh folios in July.
Folios are numbers designated to individual investor accounts. An investor can have multiple folios.
According to data from Association of Mutual Funds in India, the number of folios with 44 fund houses rose to 8,56,26,244 at the end of September, from 8,52,81,222 at the end of August, registering a gain of 3.45 lakh folios.
The total folio count stood at 8.48 crore in July, 8.38 crore in June, 8.32 crore in May and 8.27 crore in April.
Market experts said the addition of folios suggests that investors were undeterred by the market volatility. Besides, it indicates their understanding of the market risks associated in the mutual fund schemes.
Meanwhile, the BSE's benchmark Sensex rose 3.6 per cent last month.