19 lakh new investors in Mutual Funds added in April-May

New Delhi: Mutual fund houses added close to 19 lakh investor accounts in April-May of 2017-18, taking the total tally to a record 5.72 crore, driven by growing interest from retail and HNI investors alike.
This is on top of 77 lakh folios added in the entire past fiscal and 59 lakh in the preceding financial year.
In the two years, investor accounts went up following robust contribution from smaller towns.
According to data from the Association of Mutual Funds in India (Amfi) on total investor accounts with 42 active fund houses, the number of folios rose to a record 57,190,112 at the end of May from 55,399,631 at March-end, a gain of 17.90 lakh.
Overall, the country’s mutual fund industry managed an asset base of over Rs 19 lakh crore, which is likely to cross the Rs 20 lakh crore mark this fiscal.

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