Mutual Funds add 77 lakh accounts in first seven months of current fiscal
6 years, 4 months ago

Mutual Funds add 77 lakh accounts in first seven months of current fiscal

India TV News  

Growing investors' interest in mutual fund has led to an addition of nearly 77 lakh new folios in the first seven months of the current fiscal, taking the total to an all-time high of around 8 crore at the end of October. According to the data from Association of Mutual Funds in India on total investor accounts with 41 active players, the number of folios rose to a record 7,90,31,596 at the end of October this year, up from 7,13,47,301 at the end March 2018, registering a gain of 76.84 lakh. Overall, mutual funds have seen an inflow of over Rs 81,000 crore during April-October period of the current fiscal, while equity schemes alone attracted an impressive inflow of over Rs 75,000 crore. However, a net withdrawal of Rs 1.23 lakh crore was witnessed from income schemes -- a type of debt mutual funds that deliver a steady income.

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