Nippon India Mutual Fund has added the most number of folios in the financial year 2022-23, according to data from the Association of Mutual Funds in India (AMFI). The fund house added a total of 4.86 lakh folios during the period, taking its total folio count to 1.76 crore as of March 31, 2022.
Nippon India Mutual Fund's strong performance was driven by its equity-oriented schemes, which added a total of 3.12 lakh folios in the fiscal year. The fund house's balanced funds and debt funds also contributed to its strong growth, adding 1.23 lakh and 51,000 folios, respectively.
The increase in folios for Nippon India Mutual Fund comes amid a strong growth trend for the mutual fund industry in India. According to AMFI data, the industry added a net 2.9 crore folios during the financial year, taking the total number of folios to 11.2 crore as of March 31, 2022.
The growth in mutual fund folios has been attributed to various factors, including rising investor awareness and a shift towards financial instruments that offer better returns than traditional investment options. The ongoing market rally has also boosted investor sentiment, driving more investors to explore investment options in mutual funds.
Nippon India Mutual Fund's strong performance is expected to continue in the coming months, as the fund house looks to capitalize on the growing investor interest in mutual funds. The company has been actively promoting its schemes through various channels, including digital platforms and targeted marketing campaigns.
In conclusion, Nippon India Mutual Fund has added the most number of folios in the financial year 2022-23, driven by its strong performance in equity-oriented, balanced, and debt funds. The growth in folios for the fund house is a reflection of the overall growth trend in the mutual fund industry in India, driven by rising investor awareness and a shift towards financial instruments that offer better returns. Nippon India Mutual Fund's strong performance is expected to continue in the coming months as it looks to capitalize on the growing investor interest in mutual funds.
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