 "Mutual Funds, Banking Industry, MF distributors")
Net account additions in passive mutual fund (MF) schemes overtook those in active equity funds for the first time, in September, as investors piled into gold and silver exchange-traded funds (ETFs) amid a sharp rally in precious metals.
Passive schemes — including index funds and ETFs — recorded 1.2 million new accounts during the month. When fund-of-fund (FoF) schemes are included, total additions rise to 2.1 million.
By contrast, active equity schemes saw 1.4 million new accounts opened in September.
Traditionally, most new mutual fund investors have favoured active equity schemes, which have generally outperformed other categories over the long
