The mutual fund (MF) industry witnessed significant decline in new investor addition in 2022-23 (FY23). A mere 4.02 million ventured in, marking a 62.5 per cent decline, compared to the robust influx of 10.9 million entrants in 2021-22.
The industry has also experienced an uptick in halted systematic investment plans (SIPs) in recent months. While the average number of discontinued SIPs per month for the whole of FY23 stood at 1.19 million, the period between December 2022 and March 2023 saw cancellations ranging between 1.35 million and 1.54 million.
Poor returns deter investors
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