Mutual fund houses saw a surge of over 40 lakh investor accounts during the first four months of this fiscal, taking the total count to an all-time high of 5.94 crore on strong participation from retail investors. This comes following an addition of 77 lakh folios in the entire 2016-17 and 59 lakh in 2015-16. According to data from the Securities and Exchange Board of India (Sebi) on total investor accounts with 42 active fund houses, the number of folios rose to a record 5,9,420,864 at the end of July, from 5,5,399,631 in March-end, a gain of 40.21 lakh. Folios are numbers designated to individual investor accounts, though one investor can have multiple accounts.
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