Mutual funds add around 5 lakh folios in August, total tally reaches to 8.53 crore

The total folio count stood at 8.38 lakh in June, 8.32 lakh in May and 8.27 lakh in April.

The mutual fund industry has added around 5 lakh investors’ account in August, taking the total tally to 8.53 crore, amid volatile market conditions. In comparison, the industry had added 10.29 lakh new folios in July. Folios are numbers designated to individual investor accounts. An investor can have multiple folios.

According to data from Association of Mutual Funds in India, the number of folios with 44 fund houses rose to 8,52,81,222 at the end of August, from 8,48,00,409 in the end of July, registering a gain of 4.81 lakh folios. The total folio count stood at 8.38 lakh in June, 8.32 lakh in May and 8.27 lakh in April.

Market experts said the addition of folios suggest that investors were undeterred by the market volatility. Besides it indicates their understanding of the market risks associated in the mutual fund schemes. Number of folios under the equity and equity-linked saving schemes rose by 4.11 lakh to 6.16 crore in August-end as compared to 6.12 crore at the end of preceding month.

The debt oriented schemes folios count went up by 1.15 lakh to 66.75 lakh. Within the debt category, liquid funds continued to top the chart in terms of number of folios at 16.42 lakh, followed by low duration fund at 9.15 lakh. The mutual fund industry’s asset base rose to Rs 25.47 lakh crore in August-end from Rs 24.53 lakh crore in July-end.