Mutual Fund Industry Soars With Addition of 10 Lakh Investors In June

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    As per the SEBI data, the mutual fund industry in the month ended June added as many as 10 lakh investors that hence totaled the folio of the industry to 57.82 million.
    The major reason for the increase in the investor count in the last month is primarily owed to good sentiment thrown open by the equity market which lured investors to consider investment in the equity based mutual funds.

    Mutual Fund Industry Soars With Addition of 10 Lakh Investors In June

    In accordance with the data of Association of Mutual Funds of India or AMFI, a total of Rs. 7400 crore inflow was witnessed in the equity funds during the June month. Meanwhile, as many as 90,000 investors enrolled in the ELSS scheme and a total of Rs. 711 crore was invested in the scheme in the month of June.

    Another fund category, balanced funds also added as many as 1.90 lakh folio in the review period. However, on the back of uncertainty in the gold prices, investment in gold ETFs were squared off and a total outflow if Rs. 81 crore was recorded in the last month.
    The analyst are of the view that the investment in gold via mutual fund route should be stopped as a whole and other avenues such as the SGBs should be promoted to reduce the country's import bill.

    In the debt fund category, gilt funds, liquid funds together with debt and income funds also drew investor attention and investments.

    Goodreturns.in

    Story first published: Thursday, July 13, 2017, 13:24 [IST]
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