Record 46.7 lakh new mutual fund accounts opened in January 2024
In the first month of the new year, January 2024, there has been a record increase in the number of investors investing in mutual funds. In January, 46.7 lakh new accounts were opened to invest in mutual fund schemes, which is double the average of 22.3 lakh every month in 2023. Mutual fund industry organization AMFI (Association of Mutual Funds in India) has released this data.
46.7 lakh new accounts opened
AMFI said that after the opening of 46.7 lakh new accounts, the number of mutual fund folios i.e. accounts has reached 16.96 crore, which is just a short distance from touching 17 crore. Exactly one year the number of mutual fund accounts was 14.28 crore. There has been a 19 percent jump in the number of folios in one year.
Result of increasing financial literacy
According to AMFI data, there has been an increase of 3 percent in the number of mutual fund accounts month on month. In December 2023, there were 16.49 crore folio numbers.
Investment increased through digital channels
New investors investing in mutual funds are adopting the route of digital channels to enter mutual funds. Out of the 46.7 lakh new folios that have been opened, 34.7 lakh new accounts have been invested in equity related mutual fund schemes. After which the number of equity folios has increased to 11.68 crore.
SIP investment at record level
The popularity of investing in mutual funds is amazing that in January 2024, the investment made through Systematic Investment Plan has reached a record of Rs 18,838 crore.
