Nippon India Mutual Fund has become the first asset management company in the country to cross the 40 million folio milestone, according to industry data.
As per the data from the Association of Mutual Funds in India (Amfi), the mutual fund industry had 278.6 million folios at the end of June, with Nippon India MF accounting for 14.4 per cent (40.2 million folios) of the total.
Also, the fund house said it had the industry’s largest unique investor base at 24.1 million, accounting for 39 per cent of the industry’s 61.9 million unique investors.
“We are humbled to have the trust of 40 million investors and a 39 per cent share of India’s unique investor base. This milestone reflects the wealth creation journey we have enabled for millions of retail investors,” Sundeep Sikka, MD and CEO of Nippon Life India Asset Management, said.
He added that the company continues to channel household savings into India’s capital markets while facilitating Japanese investors’ participation in India’s growth story.
Among other major fund houses, ICICI Prudential Mutual Fund had 31.8 million folios, followed by HDFC Mutual Fund at 31.1 million, SBI Mutual Fund at 22.4 million and UTI Mutual Fund at 14.2 million.
The remaining fund houses in the top 10 by folio count were Axis Mutual Fund (13.5 million), Tata Mutual Fund (12.8 million), Kotak Mahindra Mutual Fund (11.9 million), Aditya Birla Sun Life Mutual Fund (11.1 million) and DSP Mutual Fund (10.3 million).
Collectively, the top 10 AMCs accounted for 199.4 million folios, or 71.6 per cent of the industry’s total, while the remaining fund houses contributed 79.2 million folios, representing 28.4 per cent.
The industry had 61.9 millionunique investors as at June-end, indicating that the average investor holds multiple mutual fund accounts across schemes and fund houses.
The gap between folio count and unique investors reflects increasing portfolio diversification among retail investors.