Contribution of the country's smaller towns -- known as beyond 15 cities (B15) -- to mutual funds' asset base surged 44 per cent to Rs 3.07 lakh crore by February end due to investor friendly initiatives by Sebi.
Mutual Funds' assets under management (AUM) from B15 locations grew from Rs 2.13 lakh crore in February 2016 to Rs 3.07 lakh crore at the end of the last month.
In the last 12 months, assets from such towns have grown due to investor friendly initiatives by the markets regulator Sebi and campaigns by asset management companies (AMCs), ICRABSE 0.24 % said in a note.
