The mutual fund industry added over four lakh investor accounts in October. In this way the total number of folios of the industry has reached 9.37 crores. The number of folios has increased mainly due to increased contribution from debt or bond schemes. Market experts said that the increase in the number of folios suggests that investors are not bothered by market fluctuations. Experts believe that now investors are beginning to understand the market risks associated with mutual fund schemes.
7.37 lakh investor accounts added in September
According to the Association of Mutual Funds in India (Amphi) data, the number of folios of 45 mutual fund companies increased by 4.11 lakh to 9,37,18,991 by the end of October. The figure stood at 9,33,07,480 as of the end of September. In September, mutual fund companies added 7.37 lakh investor accounts.
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The number of folios increased to 4.25 lakh in August, 5.6 lakh in July, 5 lakh in June, 6.13 lakh in May and 6.82 lakh in April. More than two lakh bond schemes added to the total new folios. The folio is the number assigned to individual investor accounts. An investor can have multiple folios. The number of folios increased to 30,000 to 6.39 crore in October under shares and equity-linked savings schemes.
Do not rely on risk-o-meter in mutual fund investment, know what the experts say