The mutual fund industry has added over 68 lakh folios in the financial year ended March with Axis MF, ICICI Prudential MF and Mirae Asset MF topping the table.
While Axis MF added 21.21 lakh folios, ICICI Prudential MF and Mirae MF gained 16.77 lakh and 11.73 lakh new folios, according to AMFI data.
SBI MF and DSP MF captured the fourth and fifth position with 7.35 lakh and 3.35 lakh new folios, respectively.
In percentage terms, Mirae Asset MF and Axis MF registered the highest growth in new folio creation with 84 per cent and 55 per cent among top 15 fund houses.
Nimesh Shah, Managing Director, ICICI Prudential AMC said, the robust growth in folio count was largely result of digital focus and delivery of better returns across market cycles.
This apart, he added the fund house has managed to give good returns to investors across asset classes without any defaults over the past two decades boosting investor confidence.
Swarup Mohanty, CEO Mirae Asset Investment Managers, said the fund house always believed that the mutual fund is a business of simplicity and continuity.
"Our view has been that once we can give investors a good investment experience, they would reward us with better wallet shares," he added.
However, not all fund houses saw an increase in new folios. Eleven fund houses - Nippon India MF, L&T MF, UTI MF, Franklin Templeton MF, IDBI MF, Principal MF, Essel MF, Sahara MF, HSBC MF, BOI AXA MF, and BNP Paribas MF - have witnessed a decline in their number of folios.
Overall, UTI MF remains the largest fund houses in terms of the number of folios. The fund house has over one crore folios as on March 2020 followed by HDFC MF (94.22 lakh) and ICICI Prudential MF (93.84 lakh).
Data on three mutual funds - ITI MF, Kotak MF and JM Financial MF - were not available on the AMFI website.