Mutual Funds Add 5.6 Lakh New Accounts / Portfolio in July 2020

 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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What is fund of fund in Mutual Fund ?

Today we will explain what is fund of fund in Mutual Fund parlance. Many a times your would have come to notice this term and you may be inquisitive to know the meaning of the same.

A Fund-of-Fund is basically a Mutual Fund that invests in other mutual fund schemes or ETF ( Exchange Traded Funds ).

So Meaning of Fund of Fund in simple language is " A Mutual Fund investing in series of other existing Mutual Funds ".

Here in our country FOF short form of Fund of Fund are used to invest in ETFs including those that invest in Gold and Equity indices.

Also there are funds of funds which that invest in units of international funds which in turn invest in units of global funds.

Total expenses is capped to 2% by SEBI ( Securities and Exchange Board of India ) a statutory body which monitors capital market and mutual funds in India.

Top Tax Saving Mutual Funds ( ELSS ) Ranking November 2012

The Present ranking have taken into account all the aspects of past performance as we as investment style and growth return patterns. Hence Investments can be made in the above funds for this year tax saving benefits.

Reliance Tax Saver has shown a handsome return in past few months hence as got the second ranking and five star, previously it was 4 star rated fund, Canara Robeco and Quantum has been old performers and regularly been ranked in Top Five and 5 Star Rated Funds