New Delhi , Aug 9:
The mutual fund industry has added 18 lakh investor accounts in three months ended June 30, taking the total tally to 9.15 crore, amid volatile market conditions.
A big chunk of this growth in folio generation is driven by digital platforms – especially in times of the lockdown, said Harsh Jain, co-founder of Groww.
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 rose by 17.96 lakh to 9,15,42,092 at the end of June quarter from 8,97,46,051 at the end of March quarter.
In comparison, the 45-player industry had added 26lakh folios in March quarter.