MF assets in Northeast states increases by 145% in 4 years: ICRA Analytics
AAUM) of northeastern states have grown by 145% from Rs 16,446 crore in March 2020 to Rs 40,324 crore in March 2024. This indicates a growing appetite among investors from smaller towns and cities to invest in mutual funds, according to a report by ICRA Analytics.
The share of the northeastern states has increased to 0.73% of the total AAUM of the mutual fund industry and stood at Rs 55.01 lakh crore in March 2024. This has increased from around 0.67% in March 2020, when the industry’s AAUM stood at Rs 24.71 lakh crore.
“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, Senior Vice President and Head Market Data, ICRA Analytics.
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The AAUM of Assam was Rs 29,268 crore which was the leading contributor among the seven sisters, accounting for nearly 73% of the total AAUM of Rs 40,234 crore in March 2024. The AAUM of Assam grew by nearly 159% the last five years, up from Rs 11,298 crore in March 2020, according to the press release.
Meghalaya accounted for 9% of the total AAUM at Rs 3623 crore in March 2024, marking a growth of 111% over Rs 1,714 crore in March 2020. Tripura accounted for 5% at Rs 2,174
