Mutual Funds industry has added 32 lakh new investors in last one year primarily because of massive promotion campaign by the industry, a senior Association of Mutual Funds in India (Amfi) official said on Wednesday.
The industry had launched the primary leg of its extremely ambitious investor awareness campaign Mutual Fund sahi hai (Mutual Funds are right) for investors in March 2017. Amfi now intends to soon launch the next leg of the media campaign that will convey the advantages of being invested for longer term, particularly when markets are unstable.
The primary leg of the campaign got an extremely positive reaction as mutual funds industry saw a overall expansion of 32 lakh new investorss over the last one year, Amfi said in explanation. "Deliberate efforts taken by the mutual funds industry through the mutual fund sahi hai campaign, under the direction of Sebi, bolstered by good economic situations and support from the distribution comapnies, prompted overpowering achievement in the inaugural year of the mutual fund sahi hai campaign."
"Given the rising household incomes and higher hunger towards financial savings coupled with long term India growthstory, we are certain that mutual funds would turn into the investment alternative of decision of each family unit in the years to come," Amfi administrator A. Balasubramanian said.
He additionally said that the business would keep on advocating investors to have patience and stay contributed, add debt and hybrid funds to their portfolio and allocate more through systematic investment plan (SIPs), particularly in times of market instability and mean to profit over a longer term.
Aside from expansion in mutual fund investors, the industry saw development of 25% or Rs4.25 trillion in its assets under management (AUM) till February this year, in correlation from March, 2017. In addition, the asset base of retail portion alone surged by 38% to Rs3.25 trillion.
Furthermore, the aggregate number of folios and SIP accounts saw a development of 26% or 1.05 crore and 52% or 70 lakh individually amid a similar period. Month to month SIP contribution for the industry touched Rs6,425 crore from 2.05 crore.
As a part of the campaign, Amfi has a microsite, www.mutualfundssahi.com, accessible in English and Hindi, where investor can find detailed information about mutual fund and furthermore find their nearest mutual fund office and mutual fund distributors. The site will soon be made accessible in other territorial languages.
