Driven by addition in equity fund folios, mutual fund (MF) houses have registered a surge of nearly 44 lakh investor accounts in the first eight months of the current fiscal, taking the total tally to 5.2 crore—a record. This is on top of an additional 59 lakh folios in 2015-16 and 22 lakh in 2014-15.
In the last two years, investor accounts increased following robust contribution from smaller towns. Folios are numbers designated to individual investor accounts though one investor can have multiple ones.
According to the data from the Association of Mutual Funds in India (Amfi) on total investor accounts with 43 active fund houses, the number of folios rose to a record 5,20,49,348 at the end of last month, from 4,76,63,024 in March-end, a gain of 43.86 lakh.
