North East’s share in MFs doubles in 4 yrs
Total MF assets from 7 States more than doubled to Rs40,324cr as against Rs16,446 cr in March 2020
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Though the contribution of these States to the total AAUM of the industry is still small in percentage terms, there has been a steady and consistent growth in mutual fund inflows in these States backed by increasing awareness among people and the growing interest among retail investors for investing in equities through the mutual fund route, said Ashwini Kumar, head (market data), ICRA Analytics
New Delhi: The share of North East in overall mutual fund (MF) assets in India more than doubled in the last 4 years to Rs40,324 crore in March 2024, spurred by increased awareness and growing interest among retail investors to invest in equities, a report by ICRA Analytics said.Also, this signals a growing appetite among investors from smaller towns and cities to invest in mutual funds.
The combined share of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura rose to 0.73 per cent of the total average asset under management (AAUM) of the mutual fund industry, which stood at Rs55.01 lakh crore in March 2024. The share was around 0.67 per cent in March 2020, when the industry’s AAUM was at Rs24.71 lakh crore. Data for Sikkim was not provided.
In March 2020, these states had an asset base of Rs16,446 crore as compared to Rs40,324 crore in March this year. “Though the contribution of these states to the total AAUM of the industry is still small in percentage terms, there has been a steady and consistent growth in mutual fund inflows in these states backed by increasing awareness among people and the growing interest among retail investors for investing in equities through the mutual fund route,” Ashwini Kumar, Senior Vice President and Head Market Data, ICRA Analytics, said.
