 "income, profit, money, invest, tax, bonds, mutual funds, dividend")
In 2016-17, the domestic mutual fund industry saw assets under management increase 35 per cent to Rs 18.3 lakh crore. It added nearly eight million new folios (investor accounts), an increase of 16 per cent over the previous year.
The increase in folios wasn’t equally distributed. Fund houses such as Kotak Mahindra Mutual Fund and Birla Sun Life Mutual Fund saw the highest growth in folios at over 35 per cent. Among the top three asset management companies, only ICICI Prudential AMC managed to clock industry-beating folio growth. Reliance Nippon Mutual Fund and HDFC Mutual Fund saw an increase of
