Mutual fund houses added over 77 lakh investor accounts in 2016-17, taking the total tally to a record 5.54 crore on growing interest of retail as well as HNI investors. In comparison, 59 lakh folios were added in the preceding fiscal. In the last two years, investor accounts have increased following robust contribution from smaller towns. Overall, the country's mutual fund industry managed an asset base of over Rs 18 lakh crore. It is likely to cross Rs 20 lakh crore in the current fiscal.

Source: dna May 04, 2017 07:48 UTC