The latest AMFI data shows that the mutual fund industry has added over 3 lakh new investors in two months to reach its all-time high number of 2.06 crore investors as on February 2020.
As on December 2019, the MF Industry’s investor count was 2.03 crore.
The data has identified the number of unique investors by taking into account PANs/PEKRNs (PAN Exempted KYC Registration Number) of all unit holders or their guardians in case of minor unit holders. As on February 2020, the MF industry has 2.02 crore unique investors with PAN and 4.56 lakh investors without PAN.
Swarup Mohanty, CEO, Mirae Asset India attributes this to increasing awareness about mutual funds. He said that the Mutual Funds Sahi Hai campaign, growing popularity of SIPs and ease of investment through digital technology have contributed to the industry’s growth story.
He believes that the unique pan numbers in the MF industry might increase further this fiscal. “The recent downfall in the market has encouraged many distributor to recommend their clients to invest in equity funds. Over the years, investor mindset has changed drastically. Currently investors are not panicking due to correction. Instead, they want to invest more, which is good,” he said.
In terms of folio, the total number of folios have also increased to 8.88 crore in February as against 8.85 crore in January. The industry added over 3 lakh new folios in February.
