Financial intermediaries have been driving the mutual fund business. Both fintech companies/RIAs and individual MFDs have added almost 50% of the total new folio count in the MF industry in FY 2021.
A report released by IDFC MF shows that Both RIAs/Fintech companies and individual MFDs have added close to 70 lakh folios in the last financial year as against 38 lakh in FY 2020.
Overall, RIAs and fintechs have occupied the top spot with 37 lakh new folio registrations in FY 2021. They have added 62% more folios than what they did in FY 2020.
Individual MFDs have added more than twice the number of folios in FY 2021 than in FY 2020. Individual MFDs have added close to 32 lakh folios in the last financial year as against 15 lakh in FY 2020. Individual MFDs were the second highest contributor in folio addition.
New folio addition by distributor type:
The report captures CAMS-MFDEx data, which covers 96% of the overall industry.
National distributors and direct modes also registered double digit growth in folio addition. While NDs added 47% more folios at 28 lakh, direct platforms registered 18% more folios.
South sees highest growth
New folio count has gone up 35% to 32 lakh for the south region. In FY 2020, 23.7 lakh new folios were registered in south.
Region wise new folio count:
West has maintained its lead in folio addition with 19% growth. New folio count from the west region was 53 lakh in FY 2021 compared to 44.5 lakh in FY 2020.
