The retail B-30 (beyond the top 30 cities) accounts or folios surged 52 per cent in the financial year (FY) 2024 vis-a-vis 39 per cent growth in T-30 folios.
At the end of March, retail B-30 folios in direct plans stood at 28.1 million as against 26 million T-30 accounts of individual investors.
Direct MF investment platform Coin by Zerodha believes that a lot of B-30 investors who started investing in equities through demat accounts may now be moving to MFs.
"Post Covid, there was a sharp surge in demat account additions across India. These investors are now likely moving to MFs and this is largely happening through the direct plan route. Moreover, the awareness campaigns being run by the MF industry along with the investor education programmes is leading to better penetration," said Neelesh Verma, Product head and AVP, Coin by Zerodha.
This story is from the April 26, 2024 edition of Business Standard.
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This story is from the April 26, 2024 edition of Business Standard.
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