THE mutual fund (MF) industry added 6.12 lakh investor accounts in May, taking the total tally to 9.1 crore, amid volatile market conditions and concerns over the impact of coronavirus. In comparison, the industry had added 6.82 lakh new folios in April. Folios are numbers designated to individual investor accounts. An investor can have multiple folios.
According to data from Association of Mutual Funds in India, the number of folios with 44 fund houses rose to 9,10,41,392 at the end of May, from 9,04,28,589 at the end of April, registering a gain of 6.12 lakh folios. The total folio count stood at 8.97 crore in March, 8.88 crore in February and 8.85 crore in January. Market experts said the addition of folios suggests that investors were undeterred by the market volatility. It also indicates their understanding of the market risks