MF industry recorded an addition of 10 lakh investor accounts in June, taking its total number of folios to an all-time high of 57.82 million, as per data on the SEBI.
Mutual fund industry recorded an addition of 10 lakh investor accounts in June, taking its total number of folios to an all-time high of 57.82 million, as per data on the Securities and Exchange Board of India.Industry experts attributed the rise in folios last month to positive sentiment in the equity market which prompted investors to look at equity schemes for investments.
Equity funds witnessed inflows worth Rs 7,400 crore during the period under review, as per the Association of Mutual Funds in India.
Another funds in the equity category, equity-linked savings schemes added 90,000 investor accounts in June. According to AMFI, ELSS received net inflows of close to Rs 711 crore.
Balanced funds, too, continued to be investors' favourite. This category added over 1.90 lakh folios last month.
The trend in folios of Gold ETFs are on a southward trajectory on the back of uncertainty in gold prices . The category saw a decline of 4,250 folios in June and witnessed an outflow of Rs 81 crore during the same month.On the debt front, debt funds added 70,000 investor accounts, while income funds added nearly 50,000 folios. Liquid funds, which are largely used by corporates to park surplus cash, added nearly 20,000 folios. Gilt funds that had taken a back seat in the last few months, too, garnered interest last month. This category witnessed addition of 2,200 investor accounts in June.Not sure which mutual funds to buy? Download moneycontrol transact app to get personalised investment recommendations.