There are 1.86 crore mutual fund investors in India, above 31% of the assets under management (AUM) of the industry comes from individuals with income. 1 crore, the government said in reply to a question in the Lok Sabha on Monday.
The government released data on the number of individual mutual fund investors on the basis of self-declarations by them.
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low income investors 5 lakh is 70% of the investor base. However, they hold only 29% of the mutual fund industry’s assets.
The government figures are much lower than the figures released by the Association of Mutual Funds in India (AMFI). According to AMFI, the number of mutual fund investors in India doubled to 2.39 crore by June 30, 2021 from 1.19 crore at the end of March 2017. However, AMFI numbers can also include corporates.
In 2021, an increase in the number of cryptocurrency investors may have taken the investor base beyond the base of mutual funds later. They collectively have a user base of 35 million, according to data provided to Mint by a major cryptocurrency exchange. It is not clear how much money Indians have sunk into cryptocurrencies.
The direct investor base for stocks has also grown exponentially since the COVID-19 pandemic as the markets moved on from easing monetary policy. According to the data released by the BSE, in the three months from June 6 to September 21, the number of share investors (Unique Client Code) has increased by 10 million. This is the fastest rate of growth in its history. The number of registered stock investors on the exchange increased from 7 crore in June 2021 to 80 million in September. However, since investors can open multiple trading accounts with different brokers, the actual number of stock investors is likely to be small.
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