Net account additions in active equity mutual fund (MF) schemes swelled to a record high of four million in June owing to a spree of new fund launches during the month. Thematic funds alone added nearly two million accounts, shows data from the Association of Mutual Funds in India (Amfi).
Eleven equity new fund offerings (NFOs) ended last month, cumulatively mobilising Rs 14,370 crore. The equity FM investment accounts, also known as folios, have gone up 32 per cent in the last one year.
During the June 2023-June 2024 period, MFs added a net of 32.2 million equity fund folios in comparison to 11.4 million in the previous one-year period. At the end of June 2024, the total active folio count in equity schemes stood at 133 million.
The sharp surge in account additions coincides with the ongoing rally in the equity market. The key benchmark indices Nifty and Sensex gained around 30 per cent in the one-year period ending June 30, 2024.
In the one-year period, sectoral & thematic funds have added the most number of folios at 8.9 million.
Smallcap funds added the second highest number of folios at 7.3 million. Midcap funds, multicap funds and flexicap funds were the other categories that added over 2 million folios.
In recent months, MFs have mostly launched thematic funds in the manufacturing, special opportunities and business cycle themes.
First Published: Jul 10 2024 | 9:44 PM IST
