Tuesday, May 11, 2021

MF portfolio in India comprise of less than 3% of the Indian population

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Ranchi, July 22: Despite the fact that the MF industry is one of the best regulated sectors in India, people having a MF portfolio in India comprise of less than 3% of the Indian population.

MF products work well for the final investor and the industry has created tremendous wealth for investors. Today there are more than 4.8 crore investor folios and around a crore of these are in SIPs, said Kumar Abhishek (Regional Head), ICICI Prudential MF.

He further said that total industry size is around 14 lakh crores and growing participation from retail investors and huge inflows in equity schemes led to an increase in the mutual fund (MF) industryís assets base during the quarter of April-June.

Inflows into systematic investment plans (SIPs) for equity schemes have been rising. The monthly SIP book has risen to nearly 3000 Crores per month from 1800 crores in March 2015.

Besides, mutual funds added nearly 7.85 lakh investor accounts in the first two months of the current fiscal, taking the total number of folios to a record 4.84 crore, he added.

Addressing a press conference in Ranchi, Kumar Abhishek, said, ICICI Prudential believes that equities can be the best asset class over the next 2-3 years and investors should continue to invest with a long term view and through SIPs.

Indian equities could do well compared to other emerging markets owing to favorable domestic macroeconomic factors and low crude oil prices.

From a one-year perspective, we believe the Indian economy is in a comfortable position based on the steep fall in crude oil prices over the last year and the healthy outlook on monsoon this year.

Also present at a press conference, Pradeep Kumar Jain, IFA, Ranchi, said, within the industry, ICICI Prudential is the largest AMC in India as per assets under management data available with AMFI (Rs. 199560.54 lac crores as on 30 June 2016).

As per Value Research data, a mutual fund tracking agency, ICICI Prudentialís equity schemes are having a consistent performance record with almost 100% of their assets beating the benchmark across various time periods.

The Fund House has been successful in launching right products at right time for investors which has helped it to deliver a better investor experience.

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