Record 46.7 lakh investors opened mutual fund accounts in January

New Delhi. The size of the mutual fund industry increased with the addition of 46.7 lakh investor accounts during the month of January. The reason behind this has been the important role of increasing awareness about mutual funds and ease of transactions through digitalization. The number of new mutual fund accounts opened in January is more than double the average monthly figure for the year 2023. Last year, an average of 22.3 lakh accounts were opened per month.

According to data released by the mutual fund industry body Association of Mutual Funds in India (AMFI), due to the increase in the number of accounts, the total number of mutual fund accounts in the industry has reached 16.96 crore. This is 19 percent more than the 14.28 crore accounts registered a year ago. January 2024 has seen an increase of nearly three percent compared to the total 16.49 crore accounts registered in December 2023.

Mutual fund folios are numbers assigned to individual investor accounts. An investor can also have multiple folios. Prateek Pant, Chief Business Officer, WhiteOak Mutual Fund, said factors such as higher levels of digital literacy, rising disposable income and financial literacy have encouraged Indians to look beyond traditional financial instruments like fixed deposits and post office savings schemes. . He said that the number of new generation youth among the new investors is very high. Most of the new investors are taking the digital channels to enter the mutual fund sector.

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