The Mutual Fund Industry added over 5.6 Lakh investor accounts in July 2020 taking the total tally to 9.2 Crores.. Mostly on account of contribution from debt schemes in comparison the Mutual Fund industry has added 5 Lakh new folios in June 2020.
According to the data released form AMFI ( Association to Mutual Funds in India ), the number of folios with 45 fund houses rose to 9,21,05,737 at the end of last month from 9,15,42,092 at June end registering a gain of 5.63 Lakhs folio last month of which more than 4.5 Lakhs were added in debt funds.
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Our Analysis
The high growth in folio or number of accounts , should not be seen as new fresh investors have joined its only the existing ones who invest through brokers in regular Mutual Funds inspite of having their existing folio in a Fund House for brokerage purpose the advisors / agents put in their own code resulting in generation of new folio of the same investors.
The real data would be to give the number of new additions based on the PAN Number ( Permanent Account Number ) of a person we may see the figure as stated above fall down to One Lakh only.
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