Mutual Fund: People of Maharashtra are at the forefront in mutual fund investment, know how much share of which state
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Mutual Fund InvestmentDue to better investment, investment in mutual funds has increased significantly in the last few years. At the beginning of 2016, the number of active SIPs was around 10 million. Eight years later, the mutual fund industry has added 5 million accounts in just one month. According to data from the Association of Mutual Funds in India (Amfi), monthly contributions have increased more than six times to Rs 18,800 crore. Investment assets linked to SIP accounts have increased 8.6 times from Rs 1.2 trillion to Rs 10.3 trillion during this period. Along with this, a report states that Maharashtra, Delhi, Karnataka, Gujarat and West Bengal together accounted for about 69 percent of the assets under management (AUM) of the mutual fund industry by January 2024.
27-30 percent increase on annual basis
According to a report by ICRA Analytics, these five states and union territories saw an annual increase of 27-30 percent in AUM of mutual fund companies last month. The report says that by January 2024, these states contributed 68.46 percent of the total AUM of Rs 52.89 lakh crore. This is slightly less than the contribution of 69.43 percent in January 2023. In this report, Maharashtra leads with an AUM of Rs 21.69 lakh crore while Delhi is at second place with an AUM of Rs 4.52 lakh crore. Karnataka is at third place with AUM of Rs 3.65 lakh crore, Gujarat is at fourth place with Rs 3.61 lakh crore and West Bengal is at fifth place with AUM of Rs 2.74 lakh crore. Along with this, AUM of Rs 2.41 lakh crore was recorded in Tamil Nadu, Rs 2.42 lakh crore in Uttar Pradesh, Rs 96,619 crore in Rajasthan, Rs 81,388 crore in Madhya Pradesh and Rs 78,964 crore in Telangana.
10 states account for 87% of the mutual fund industry
According to the report, till last month these top 10 states accounted for 87 percent of the total AUM of the mutual fund industry. However, other states are also gradually increasing contributions to mutual fund schemes. Ashwini Kumar, head of market data at ICRA Analytics, said rising investment awareness, growing interest among retail investors for investing in equities through mutual funds and opening of new offices of mutual fund companies even beyond big cities are driving investment in small towns and cities. The reach of mutual funds in towns is continuously improving.
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