Smaller towns contributed Rs 4.36 lakh crore to assets under management (AUM) of the mutual fund industry at the end of February 2018, over 41 per cent higher than a year-ago period, said a report.
According to rating agency ICRA AUM of mutual funds from B15 cities (beyond top 15 cities) stood at Rs 3.08 lakh crore at end of February 2017.
"In the last 12 months, B15 towns have witnessed AUM growth of 41.7 per cent or Rs 1.28 lakh crore to reach Rs 4.36 lakh crore at the end of February 2018 compared with Rs 3.08 lakh crore in the year-ago period," the report said.
