India's mutual fund sector is witnessing a new wave of equity participation. So far during this financial year (April-July), industry has added nearly 3 million equity folios, at an average of 750,000 a month.
This is the highest pace of account additions since 2007-08. During 2007-08, just ahead of the financial crisis, the industry added an average million equity accounts a month.
If the current pace of account additions in the equity segment continues unabated, the current financial year may end up adding nine million equity folios, taking the overall equity accounts to a massive 50 million.
