Equity mutual funds added over 11 lakh investor accounts or folios in the first five months of the current fiscal, mainly due to strong participation from retail investors.
This is on top of an addition of 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.
Folios are numbers designated for individual investor accounts, though one investor can have multiple accounts. ..