Equity mutual funds witnessed an addition of over 29 lakh investor accounts or folios in the first four months of the ongoing fiscal, primarily on account of strong participation from retail investors. This is on top of an addition of 48 lakh folios in the entire past fiscal, 43 lakh folios in 2015-16 and 25 lakh in 2014-15. In the past two years, investor accounts increased mainly due to robust contribution from smaller towns. The sharp rise in folio numbers comes at a time when the benchmark indices — Sensex and Nifty — have been hovering at historical highs.
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