Investors rush to mutual funds; over 8 lakh folios added in a month
Showing a growing inclination for mutual funds among investors, the number of folios has grown by over 8 lakh in just one month to reach an all time high of 7.22 crore at the end of April 2018. This follows an addition of 1.6 crore investors account in entire 2017-18, over 67 lakh folios in 2016-17 and 59 lakh in 2015-16
Folios in equity, equity-linked saving schemes (ELSS) grew by 7.35 lakh to 5.43 crore, besides, folios in balanced category surged by 1 lakh to 60 lakh during the period under review. Image source: PTI