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The MF industry witnessed 4 times growth in terms of the number of new investors.
An analysis of industry data shows that the industry added 24 lakh new investors in April-June 2024 as against 6 lakh in April-June 2023.
The total number of MF investors grew from 4.45 crore in March 31, 2024 to 4.69 crore in June 30, 2024.
Let’s check the table to understand more:
|
Year 2024 |
Unique investors count in Crore |
Year 2023 |
Unique investors count in Crore |
|
March |
4.45 |
March |
3.77 |
|
April |
4.53 |
April |
3.79 |
|
May |
4.60 |
May |
3.82 |
|
June |
4.69 |
June |
3.83 |
|
Increase Count |
24 lakh |
Increase Count |
6 lakh |
Sandeep Bagla, CEO, Trust Mutual Fund attributes this to stellar performance of equity funds. He also said that individual MFDs and fintech companies added lot of investors during the last three months.
Pune MFD Sandeep Bhushetty feels that the industry added many new investors through NFOs. He said, “One of the major factor contributing to this trend is the recent flood of NFOs. During this period, MFDs encourage many new investors to participate in these NFOs, especially targeting newcomers to mutual funds. These efforts have significantly increased investor interest and engagement in mutual funds.”
Swarup Mohanty, CEO, Mirae Asset India Mutual Fund feels that the growing popularity of SIPs attracted many investors. He said, “SIPs are attracting many investors. And ease of investment through digitalization has added to its popularity. The number is encouraging considering the challenges in KYC.”
