Thanks to the steady run up in the Sensex over the years, even though the rise is increasingly concentrated in a handful of stocks, there has been a steady increase in household investment in mutual funds. As a result, the assets under management (AUM) from small investors jumped to Rs 10 lakh crore in July 2018, or double that in July 2016. At an overall level, AUMs of mutual fund companies more than doubled to Rs 23 lakh crore in July 2018, from Rs `lakh crore in July 2014. Nor is this just due to the increase in the Sensex since the number of folios, too, rose from 3.95 crore in March 2014 to 7.46 crore in June this year.
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