How many folios did the mutual fund industry add during the previous financial year?

In the world of mutual funds, an important metrics of retail participation is the number of folios, which are equivalent of AMC specific account numbers. FY22 has been solid year for the spread of the mutual fund cult in India if you look at the proliferation of the number of mutual fund folios. This was driven by greater awareness, enhanced digitisation of KYC and transactions, apart from very robust equity markets and the presence of TINA factor.

In terms of numbers, FY22 saw mutual funds adding a staggering 3.17 crore folios, taking the total tally of existing mutual fund folios in India to 12.95 crore. The folios are normally representative of retail equity investments. In FY21, mutual funds saw 81 lakh folios added, so the FY22 figure is four times the FY 21 figure. Retail investments account for 10.34 crore folios out of these. It must be mentioned that SIPs have been a big driver of MF folios.