Nearly 70% of India's mutual fund investments come from these 5 states
Maharashtra, Karnataka, Gujarat, West Bengal and New Delhi — witnessed an average growth of around 27-30% in AAUM (average assets under management) in January 2024 on a year-on-year basis, according to a report by ICRA Analytics.
In terms of contribution, these 4 states and Union Territory accounted for nearly 68.46% of the total AAUM of Rs 52.89 lakh crore in January 2024, marginally down from a contribution of 69.43% in January 2023, stated the report.
The average asset under management of Maharashtra stood at Rs 21.69 lakh crore in January witnessing year-on-year growth of 27% from Rs 17.13 lakh crore in January 2023.
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The AAUM of 3 states surged by around 30% on a year-on-year basis. New Delhi’s AAUM stood at Rs 4.52 lakh crore in January registering a growth of 30% from Rs 3.46 lakh crore in January last year. Karnataka’s AAUM stood at Rs 3.65 lakh crore — a year-on-year growth of 30% from Rs 2.79 lakh crore in January 2023. Gujarat witnessed an uptick of 30% in AAUM in January 2024 to Rs 3.60 lakh crore from Rs 2.78 lakh crore in January 2023.
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The average asset under management of West Bengal surged by 28% from Rs 2.14 lakh crore in January 2023 to Rs 2.74 lakh crore in January 2024.
Interestingly, the smaller states and Union Territories beyond the top 10 states have been witnessing a steady surge in investments into mutual funds, data compiled
