There is some good news for the mutual fund industry. AMFI CEO NS Venkatesh has said that the mutual fund industry has close to 1.54 crore unique investors. He was speaking to media at the fifth edition of Cafemutual IFA event (CIFA 2018) today in Mumbai.
Venkatesh said that with close to 6.50 crore folios, mutual fund industry has been growing drastically. “We have 1.54 crore unique pan with 4 folios each. This is thanks to unattractive returns from traditional financial investments like FDs and untiring efforts of distributors who bring in household savings to the mutual fund fold.”
He said that AMFI is confident of achieving new milestones considering the growing popularity of SIP and increasing distribution footprint across the country.
Highlighting the increasing number of SIP accounts, he said that the mutual fund industry has close to 2 crore SIP accounts as on January 2018. The industry added about 9.26 lakh SIP accounts each month on an average during FY 2017-18.
Venkatesh attributed this to increased awareness about mutual funds and good fund performance. He said that the ‘mutual fund sahi hai’ campaign has received overwhelming response from investors. “It is been nearly 1 years since we have launched the campaign. From upcoming financial year, we will roll out the second phase of this campaign. We hope that we would continue get encouraging results from this campaign.”
