 "mutual funds, MFs")
Even as the returns of mutual fund (MF) schemes have improved considerably in the last three months, addition of new investors has remained in the slow lane for the MF industry.
According to industry data, during the first six months of CY 2023, MFs onboarded only 1.6 million new unique investors, in stark contrast to the 4.7 million investors added during the same period last CY and the 2.4 million in 2021. It is noteworthy, however, that the current additions for this year have doubled in comparison to the figure of 800,000 seen in 2020.
At the end of June,
