Maharashtra leads the mutual fund landscape or MF Chart in India with an assets base of Rs 1.21 lakh crore at the end of April in equity-oriented schemes. The Marathi state is followed by Delhi with Rs 28,058 crore, Karnataka with Rs 27,625 crore, Gujarat with Rs 25,402 crore, and West Bengal with Rs 21,189 crore.
Maharashtra dominates the mutual fund landscape because the state houses the headquarters of most of the large companies, thereby getting a bulk of investments through non-retail or institutional routes, experts noted. The state is taking up a 35% share of the market.
In terms of the annual growth (for states with an Assets Under Management (AUM) of more than Rs 1,000 crore), Delhi led with a 158% growth, followed by Haryana 117% and Jharkhand 105%.
Among other states, the assets base is
- Uttar Pradesh – Rs 18,172 crore
- Tamil Nadu – Rs 17,466 crore
- Andhra Pradesh + Telangana – Rs 12,628 crore
- Haryana – Rs 8,812 crore
- Rajasthan – Rs 7,238 crore
There are states with an AUM of less than Rs 1,000 crore. This included Himachal Pradesh, Meghalaya, Jammu & Kashmir, Meghalaya, Sikkim and Pondicherry.
The Prime Database MD Pranav Haldea said, the efforts to increase the penetration of mutual funds in smaller towns, known as beyond-15 cities (B15), do not seem to be making an impact. The total AUM from top 15 cities (Delhi, Mumbai, Kolkata and Chennai) went up by 27% over the last one year.
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