The nationwide lockdown and volatile equity markets did not deter investors from participating in India’s growth story through mutual funds.
The latest AMFI data shows that the MF industry has added close to 1.60 lakh unique investors with PAN, taking the overall investors count in mutual funds to 2.10 crore in May 2020 from 2.08 crore in March 2020.
While the industry has added close to 54,000 new investors in May, the MF industry added 1.04 lakh unique investors with PAN in April.
However, if we dig deeper, the MF industry has witnessed a slowdown in terms of addition of new investors. The industry had added 1.45 lakh new investors in March, 2.23 lakh in February and 1.51 lakh in January.
Nevertheless, given the circumstances, these numbers are no less than heartening, feel experts. Especially given the fact that many distributors, advisors and bank RMs rely heavily on in person meetings and physical transactions to onboard clients.