The number of high net worth individuals’ (HNIs’) accounts in India’s mutual fund (MF) sector has hit an all-time high. Against a little more than a million accounts under the HNI category at the end of 2013-14, around the time the Narendra Modi government was elected, the sector had a little over 2.5 million (mn) such accounts in its investors’ base at the end of 2016-17, a rise of 140 per cent.
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