Maharashtra contributes 37% of mutual funds’ equity AUM

Going by mutual fund assets in absolute terms, the data from Association of Mutual Funds in India reveals that 37 percent of total equity assets under management is from Maharashtra.

As per the data released by Association of Mutual Funds in India (AMFI), of the total Rs 9.80 lakh crore of total equity assets, Rs 3.64 lakh crore has been contributed by Maharashtra.

Also, Maharashtra continues to dominate the mutual fund industry with the highest equity AUM.

The state has registered an increase of a whopping 80 percent or nearly Rs 1.6 lakh crore in the last one year. The category of Equity AUM includes pure equity funds, ELSS, balanced funds and equity ETFs.

New Delhi followed Maharashtra with equity AUM of Rs 89,712 crore with a rise of 67 percent or Rs 36,138 crore in a year. Gujarat stood third in terms of equity participation. The equity AUM of Gujarat almost doubled in one year.  The equity AUM of Gujarat was Rs 77,064 crore in December 2017. This state registered an increase of 91 percent from Rs 40,322 crore in December 2016.

According to mutual fund officials, investor education in aiding growth from these major states. Last year, AMFI had launched ‘Mutual Funds Sahi Hai’ campaign which has largely helped garner interest in mutual funds from many states.

Karnataka and West Bengal stood at fourth and fifth position, respectively, in terms of equity AUM. The equity AUM of West Bengal increased by 79 percent to Rs 57,000 crore in a year.

According to AMFI data, investors in small states and union territories such as Sikkim, Mizoram, Nagaland, Tripura and Andaman and Nicobar Islands have also been witnessing investments in equity funds.

Interestingly, Andaman and Nicobar Islands has registered the highest growth of 259 percent in equity AUM from a year ago.

Overall, the industry has recorded 77 percent growth in equity AUM. Also, in the last one year, the 42-player MF industry has added around Rs 4.30 lakh crore to its equity AUM kitty to touch nearly Rs 10 lakh crore.