For Every Five New Investors In FY21, Mutual Funds Added One Client

Mutual funds lagged in adding new clients even as a record number of new investors piled into equity markets during the pandemic-ravaged FY21. The mutual fund industry added 20 lakh unique investors last fiscal, taking the total count at 2.27 crore as of March 2021, said the Association of Mutual Funds of India. By contrast, the nation’s depositories added 1.03 crore new demat accounts during the period. What that means is that mutua...