Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

MFs Witness Addition of Over 29 Lakh Investor Accounts in April-July FY'18

This is on top of an addition of 48 lakh folios in the entire past fiscal, 43 lakh folios in 2015-16 and 25 lakh in 2014-15.

PTI

Updated:August 25, 2017, 2:18 PM IST
facebookTwitterskypewhatsapp
MFs Witness Addition of Over 29 Lakh Investor Accounts in April-July FY'18
Image for representation only.
Loading...

New Delhi: Equity mutual funds witnessed an addition of over 29 lakh investor accounts or folios in the first four months of the ongoing fiscal, primarily on account of strong participation from retail investors.

This is on top of an addition of 48 lakh folios in the entire past fiscal, 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.

The sharp rise in folio numbers comes at a time when the benchmark indices -- Sensex and Nifty -- have been hovering at historical highs.

According to data from Association of Mutual Funds in India (AMFI) on total investor accounts with 42 active fund houses, the number of equity folios rose to 4,37,69,430 at the end of July, from 4,08,26,211 in March-end, a gain of 29.43 lakh.

Folios are numbers designated to individual investor accounts, though an investor can have multiple ones. Increasing participation from retail investors and good return given by equity schemes have helped the folio counts rise, experts said.

"Contribution towards monthly SIP (systematic investment plans) led to higher positive net inflows in equities," FundsIndia.com Head of Mutual Fund Research Vidya Bala said. Besides, the industry's continuous approach to spread awareness about mutual fund products, especially SIPs, have helped in bringing more investors, she said.

"Moreover, investors will continue to flock towards equity mutual funds as other investment avenues like real estate and gold are not giving good returns," she added. SIP is an investment vehicle offered by mutual funds to investors, allowing them to invest using small amounts periodically instead of lump sums. The frequency of investment is usually weekly, monthly or quarterly.

Mutual funds have reported net inflows of over Rs 41,000 crore in equity schemes in the first four months (April-July period) of the current fiscal.

The asset base of equity schemes surged to Rs 6.29 lakh crore in July-end from Rs 5.43 lakh crore at the end of March.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 59.25 5.24
Indiabulls Hsg 467.85 3.84
Reliance 1,275.85 2.33
HDFC Bank 2,162.70 -0.52
ICICI Bank 395.40 -0.93
Company Price Change %Gain
Yes Bank 59.25 5.24
ICICI Bank 395.75 -0.85
Indiabulls Hsg 467.90 4.00
Bajaj Finance 3,175.35 1.85
Reliance 1,275.95 2.36
Top Gainers
Company Price Change %Gain
Zee Entertain 351.15 6.75
Vedanta 137.40 6.47
UPL 547.25 5.64
Yes Bank 59.25 5.24
BPCL 329.35 5.22
Company Price Change %Gain
Vedanta 137.50 6.55
Yes Bank 59.25 5.24
ONGC 122.30 4.66
M&M 533.10 4.09
Coal India 188.05 4.07
Top Losers
Company Price Change %Gain
IndusInd Bank 1,310.50 -1.88
ITC 236.10 -1.65
ICICI Bank 395.40 -0.93
Eicher Motors 15,383.45 -0.90
HUL 1,860.00 -0.65
Company Price Change %Gain
IndusInd Bank 1,310.35 -1.90
ITC 236.00 -1.71
ICICI Bank 395.75 -0.85
Power Grid Corp 201.40 -0.69
HUL 1,859.35 -0.69

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results