In recent years, there has been a dramatic increase in the number of SIP accounts. Assets managed by the Indian MF industry grew to ₹23.96 trillion in July this year, up 17.33% from the previous year. Among open-ended funds, 50% of total investment was made in debt funds, followed by 30% in equities and 14% in hybrid funds. As of March, the industry had about 71 million individual folios, of which 67 million were retail folios, said the report. In the past one year, 16 million retail folios were added, equal to the total number added in the preceding three years.

Source: Mint September 27, 2018 04:07 UTC