Maharashtra adds Rs.92,600 crore equity AUM in FY 2017-18

Maharashtra continues to be the unbeatable champion of equity funds.

The state added the highest equity AUM in the country in FY 2017-18. It added Rs.92,606  crore of equity AUM last fiscal, shows AMFI data on state-wise AUM. The total equity AUM of Maharashtra was Rs.3 lakh crore on March 2018.

Equity AUM includes pure equity funds, ELSS and balanced schemes. 

The data also shows that Maharashtra contributed 32% of the total MF industry equity AUM as on March 2018. AMFI does not provide the asset break-up (equity and debt) of different cities, but it is quite likely the largest chunk came from the two big cities of Mumbai and Pune.

The total AUM (including debt and equity) of Mumbai and Pune was Rs.6.95 lakh crore and Rs.90,141 crore, respectively in FY 2017-18. The total AUM of Maharashtra was Rs.9.38 lakh crore.

Neighbouring state Gujarat, which was third in terms of equity market share, witnessed the second highest increase in equity AUM. Gujarat added equity AUM of Rs.30,653 crore in FY 2017-18 to reach a total equity AUM of Rs.77,590 crore in March 2018.

The total equity AUM of Ahmedabad alone was Rs.68,353 crore in March 2018. This indicates that investors residing in Gujarat favour equities. AMFI data further shows the total AUM of Gujarat was Rs.1.50 lakh crore as on March 2018.

Experts believe that growth in equity AUM in the country’s western zone is due to the presence of evolved investors. “The western zone has an equity cult. Many people invest in equity either through direct stocks or equity funds,” said a senior fund official of a top fund house.  

In absolute terms, Delhi followed Maharashtra. With a market share of nearly 10%, it had an equity AUM of Rs.89,653 crore in March 2018. The national capital territory added an equity AUM of Rs.30,423 crore in 2017-18, shows AMFI data.

In percentage terms, Mizoram, Andaman and Nicobar Islands and Tripura witnessed triple-digit growth because of low base.

Overall, the industry recorded 53% growth in equity AUM. AMFI data shows that the industry added about Rs.3.21 lakh crore to its equity AUM in one year to reach Rs.9.30 lakh crore last fiscal.

State-wise growth in equity AUM (in Rs crore)

Source: AMFI