Industry experts attributed growing participation from retail investors, especially from small towns, huge inflows into equity schemes and several measures taken by markets regulator Sebi as well as campaigns by asset management companies (AMCs).
The MF industry added more than 67 lakh investor accounts till February of last financial year which ended on March 31, taking the total number of folios to 5.4 crore. MFs reported a net inflow of close to Rs 4 lakh crore in the 11-month period of 2016-17. Of this, equity and equity- linked savings schemes accounted over Rs 62,000 crore.
Besides, income funds witnessed an inflow of Rs 1.77 lakh crore and liquid funds generated Rs 1.11 lakh crore. The contribution of the country's smaller towns - known as beyond-15 cities (B15) - to mutual funds' asset base surged around 44 per cent to over Rs 3 lakh crore due to investor- friendly initiatives by Sebi.
B15 cities are those which are beyond these top 15 cities - New Delhi (including NCR) Mumbai (including Thane & Navi Mumbai), Kolkata, Chennai, Bangalore, Ahmedabad, Baroda, Chandigarh, Hyderabad, Jaipur, Kanpur, Lucknow, Panjim, Pune and Surat.
"The financial year 2016-17 has been a good a year for Reliance MF in terms of AUM and performance. Our schemes continue to be top top performing with strong fund ratings, we registered strong systematic investment plan (SIP) growth and we also added CPSE ETF success to our list of milestones.
"Our quest for market expansion and drive to emerge top ranking MF will be key focus for this year," Reliance MF Chief Executive Officer Sundeep Sikka said.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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