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Notwithstanding the turbulence in the market, the mutual fund industry plans to add 50 lakh new investors in the next one year by continuing with its ‘Mutual Funds Sahi Hain’ campaign.
A Balasubramanian, Chairman, Association of Mutual Funds in India, and CEO of Birla Sun Life Asset Management Company, said the industry aims to add 50 lakh new investors in the next one year with focus on investors in the beyond top 30 cities. In the last one year, the industry has added 32 lakh new investors.
“We tell mutual fund investors to have patience and stay invested, add debt and hybrid funds to their portfolio and allocate more through systematic investment plan, especially during periods of market volatility,” Balasubramanian added. NS Venkatesh, CEO, AMFI, said, going ahead, the industry wants to build on the base to ensure that the momentum and the faith of investors in mutual funds continue over the longer term. The industry AUM grew by 25 per cent (₹4.25 lakh crore) while that of retail investors climbed 38 per cent to ₹3.25 lakh crore till February.
The total number of folios and SIP accounts in the last one year was up 26 per cent (1.05 crore) and 52 per cent (70 lakh), respectively. The industry is receiving ₹6,425 crore a month through 2.05 crore SIP accounts.
AMFI will soon launch the second leg of the ‘Sahi Hain’ campaign to spread awareness on the nuances of mutual fund investing, while detailing the benefits of being invested over the longer term, especially when the markets are volatile.
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