Mu. 50% increase in number of investors in the fund, adding 10 lakhs in January

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AHMEDABAD: The mutual fund industry reported strong growth in the number of new investors in January. Additional industry efforts to reach out to new investors through continued market upswing and new fund offerings by fund houses have been successful. Funds added nearly 1 million new investors in January 2024, up 50 percent from December 2023. The last time 10 lakh investors were included in mutual funds was in February 2022.

Two factors could be responsible for the increase in the number of investors during January. First, Systematic Plan A (SIP) has become the preferred option for Indians in the capital markets. This constant monthly growth tells an interesting story in itself. Secondly, New Fund Offering (NFO) has also played an important role in attracting new investors. A large number of NFOs came in January.

Mutual funds launched 17 new schemes in January. They collectively spent Rs. 6,430 crore investment was attracted. In December, the number of new schemes was 14. The number of investors in the equity category has also increased during the period of high offers by large fund houses.

Data from the Association of Mutual Funds in India shows that the total number of investors at the end of January was 4.3 crore. The total number of investors has been calculated by taking into account the total PAN card registrations. The fund industry has set a target of 1 crore investors by 2030. Due to the increasing reach of online investment platforms and the awareness of investors, the number of investors is increasing rapidly.

Most of the new investors are coming through fintech. Data shows that 40 percent are being registered in SIP direct plans. Most of them are new investors. This trend is also being aided by the changing preferences of investors. They are now giving more emphasis on investment instead of saving. In January, investors opened more than 5 million new SIP accounts compared to 4 million in December 2023.

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