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The Rs.51 lakh crore mutual fund industry has added 54 lakh new investors in the calendar year 2023. As a result, the total investor count has increased from 3.66 crore in December 2022 to 4.20 crore in December 2023, shows the latest industry data.
|
Dec-22 |
Dec-23 |
Change |
|
3,62,26,580 |
4,16,71,689 |
54,45,109 |
|
4,28,358 |
3,69,209 |
-59,149 |
|
3,66,54,938 |
4,20,40,898 |
53,85,960 |
G Pradeepkumar attributes this to growing retail participation through SIPs and combined efforts of MFDs, AMFI, AMCs and SEBI. He said, “Many investors who have had a good experience with mutual funds due to stellar fund performances across categories have been encouraging new people to invest in mutual funds. Also, the ‘mutual fund sahi hai’ campaign along with joint efforts of distributors and SEBI has started reaping fruits.”
However, the industry had added 60 lakh new investors in CY 2022 and 90 lakh new investors in CY 2021.
A CEO requesting anonymity said that the changes in KYC norms and introduction of lot of new things like Aadhaar Pan linking with MF Folios and nomination updating have affected the pace of growth for the MF industry.
Overall, the total investor count with PAN reached 4.17 crore by the end of December 2023. If we include 3.69 lakh PAN exempt KYC (PEKRN) investors, the investor count rises further to 4.20 crore.
