Mutual funds asset base up 5 pc to Rs 24 lakh cr in July
Mutual funds' asset base rose by 5 percent to Rs 23.96 lakh crore in July-end, driven by participation from retail investors and a spirited investor awareness campaign by the industry.
"The monthly rise in the asset base is mainly due to the industry body's investor awareness campaign and strong participation from retail investors," Amfi Chief Executive NS Venkatesh told PTI over the phone.
Besides, Systematic Investment Plan (SIPs) continue to be the fancy of retail investors and people continue to invest through the route as it allows investors to invest in small amounts periodically instead of a lump sum, he added.
"The addition of new folios suggests that new investors believe that mutual funds are among the most promising investment products for the long term," Venkatesh said.
Folios are numbers designated to individual investor accounts, though an investor can have multiple accounts.
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