Amid an uptick in the equity market, the mutual fund industry has added more than 6 lakh investors' account in October, making it the highest addition in the last three months. In comparison, the industry had added 3.45 lakh new folios in September, 4.8 lakh in August and more than 10 lakh in July.
Folios are numbers designated to individual investor accounts. An investor can have multiple folios. According to data from Association of Mutual Funds in India, the number of folios with 44 fund houses rose to 8,62,56,880 at the end of October, from 8,56,26,244 in the end of September, registering a gain of 6.3 lakh folios.
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