Mutual funds add around 5 lakh folios in august, total tally reaches to 8.53-cr
In August, the mutual fund industry has added around 5 lakh investors account apart from the volatile market conditions it has taken the total tally to 8.53 crore. And in the month of July, the industry had added 10.29 lakh new folios comparatively.
Generally, an investor can have multiple folios. Folios are numbers designated to individual investor accounts.
The number of folios with 44 fund houses raises to 8,52,81,222 at the end of august, from 8,48,00,409 at the end of July and registering a gain of 4.81 lakh folios according to the data from the association of mutual funds in India (AMFI).
In the month of June, the total folio count stood at 8.38 lakh. And in the month of May, it stood at 8.32 lakh. In the month of April, it stood at 8.27 lakh.
The addition of folios suggests that investors were undeterred by the market volatility said by the market experts. Besides, it indicates their understanding of the market risks associated with mutual fund schemes.
By the end of August, the number of folios under the equity and equity-linked saving scheme raise by 4.11 lakh to 6.61 crores to 6.12 crore at the end of the preceding month.
Within the debt category, liquid funds continued to top the chart in terms of the number of folios at 16.42 lakh, followed by a low duration fund at 9.15 lakh. And the debt oriented schemes folios count went up by 1.15 lakh to 66.75 lakh.
By August-end the mutual fund industry’s assets base raise up to Rs 25.47 lakh crore when compared to the July end were the mutual fund asset base was 24.53 lakh.