Business| Considering the move of the stock markets, the trend of investors towards mutual funds is increasing steadily. The mutual fund industry has added about 77 lakh new folios (accounts) in the first seven months of the current financial year, and by the end of October, the number of total folios has increased to eight million, it is the highest level of all time so far. Its reason is, increasing confidence of people on mutual funds and also it is different from conventional methods of saving.
Before that, 1.6 million folios in the financial year 2017-18, more than 67 lakh in 2016-17 and 59 lakh folios were added in 2015-16, gor your information, let us tell you that Folio is the account number given to the individual investor. However, an investor may have more than one folio. According to Amphi, the organization of mutual fund companies, by the end of October this year, 41 active mutual fund companies have 7,90,31,596 folios, the number of folios in the end of March 2018 was 7,13,47,301, during this period an increase of 76.84 lakhs, which has been showing the growing trust of the investors.
Over the past few years, the number of folios increased by the inflow of retail investors, especially in smaller cities and equity schemes. The number of folios in Equity and Equity Linked Schemes (ELSS) increased by 66 lakh to 6 crore, besides the Folio in Balanced category increased 4.4 lakh to 63 lakh, the number of folios in the income fund increased by 5.6 lakh to 1.13 crore.
During April-October of the current financial year, Rs 81 thousand crore was invested in mutual funds, whereas equity schemes attracted investment of Rs 75 thousand crore alone. If mutual funds are carefully selected, then this is a profitable investment. Through which daily exposure to the stock market can be avoided and avoided.Rajasthan Tourism App - Welcomes to the land of Sun, Sand and adventures