Mutual Funds added 32 lakh new investors last year

Mutual Funds added 32 lakh new investors last year

Mutual Funds added 32 lakh new investors last year

Association of Mutual Funds in India (AMFI), the industry association of Asset Management Companies (AMCs) of all Mutual Funds in India, on Wednesday said the increased awareness of mutual funds helped the industry add 32 lakh new investors over the last year.

A Balasubramanian, Chairman AMFI said, "Concerted efforts taken by the mutual fund industry through the Mutual Funds Sahi Hai campaign, under the guidance of Sebi supported by favourable market conditions and support from the distribution community, led to overwhelming success in the inaugural year of the Mutual Funds Sahi Hai campaign."

Given the rising household incomes and higher appetite towards financial savings coupled with long term India growth story, AMFI is sure that mutual funds would become the investment option of choice of every household in the years to come.

"We continue to advocate mutual fund investors to have patience and stay invested, add debt and hybrid funds to their portfolio and allocate more through SIPs, especially in periods of market volatility and aim to benefit over a longer term, Balasubramanian added.

AMFI Chief Executive, N S Venkatesh said, "We have seen tremendous growth within the mutual fund industry in the recent years. Going ahead, we want to build on the base and ensure that the momentum and the faith of the investors continue for investing in mutual funds over longer term."

The first leg of 'Mutual Funds Sahi Hai' campaign, aimed at creating awareness and busting myths around mutual funds, was launched on March 15, 2017. The campaign got a very positive response as mutual fund companies saw an overall addition of 32 lakh new investors over the last one year. Industry also witnessed AUM growth of 25% (Rs 4.25 lakh crore), 38% (Rs 3.25 lakh crore) growth in Retail AUM till February 28, 2018, when compared with March 31, 2017.

The total number of folios and SIP accounts in the same period saw a growth of 26% (1.05 crore) and 52% (70 lakh) respectively. Monthly SIP contribution for the industry touched Rs 6,425 crore from 2.05 crore SIP accounts.

AMFI will soon launch the next leg of the media campaign. In the upcoming campaign, which continues under the Mutual Funds Sahi Hai banner, AMFI's objective is to communicate to the investor on the nuances of mutual fund investing, while extolling the benefits of being invested for longer term, especially when markets are volatile.

DH Newsletter Privacy Policy Get top news in your inbox daily