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MF News Chhattisgarh investors take to equity funds

Chhattisgarh investors take to equity funds

The latest AMFI data shows that the demand for equity funds have been growing in smaller states and union territories.
Shreeta Rege Jan 18, 2019

Chhattisgarh’s equity assets jumped by a massive 29% in the last one-year ending December 2018, as per the latest AMFI data. Chhattisgarh, which ranks nineteenth in terms of the total industry AUM has 55% of its assets in equity schemes with Rs.7,400 crore of equity assets.

Assam, which ranks twentieth on the AMFI’s list, reflects a similar trend. The state added Rs. 1,286 crore of equity AUM during the year - an increase of 27%.

Better awareness about mutual funds in smaller towns seems to be bearing fruit as smaller states (Tripura 44% and Manipur 34%) and union territory (Andaman and Nicobar Islands 43%) have recorded fastest increase in their equity AUM. Though the increase in assets is not substantial in absolute terms, the growth indicates better acceptance of mutual funds across the country.

Other northeastern states like Sikkim, Mizoram and union territories like Dadra and Nagar Haveli are also seeing significant demand for equity funds.

In absolute terms, Maharashtra (Rs. 13,735 crore), Karnataka (Rs. 11,495 crore) and Uttar Pradesh (Rs. 9,707 crore) clinched the top three spots in terms of equity AUM.   

Among all the regions, only Lakshadweep has seen a fall in its AUM.

Overall, the total equity AUM of the industry grew by 11% over the last one year.

State-wise equity AUM

S.no

Name of the States/ Union Territories

Equity Dec-2018 (Rs. crore)

Equity  Dec-2017 (Rs. crore)

AUM growth (Rs. crore)

Growth in equity

1

Tripura

562

389

173

44%

2

Andaman and Nicobar Islands

240

168

72

43%

3

Manipur

297

222

75

34%

4

Himachal Pradesh

2,555

1,962

593

30%

5

Chhattisgarh

7,388

5,737

1,651

29%

6

Others

43,973

34,585

9,389

27%

7

Sikkim

562

443

119

27%

8

Assam

6,099

4,813

1,286

27%

9

Dadra and Nagar Haveli

232

185

47

25%

10

Mizoram

98

80

18

23%

11

Jharkhand

13,456

11,146

2,310

21%

12

Uttar Pradesh

58,293

48,586

9,707

20%

13

Uttarakhand

5,189

4,326

862

20%

14

Telangana

17,466

14,644

2,822

19%

15

Bihar

12,277

10,329

1,948

19%

16

Madhya Pradesh

19,082

16,069

3,013

19%

17

Karnataka

76,960

65,465

11,495

18%

18

Kerala

16,373

13,968

2,405

17%

19

Orissa

11,423

9,776

1,647

17%

20

Nagaland

380

328

53

16%

21

Arunachal Pradesh

268

232

37

16%

22

Punjab

17,182

14,842

2,340

16%

23

Haryana

32,991

28,509

4,482

16%

24

West Bengal

65,348

56,582

8,765

15%

25

Rajasthan

21,232

18,550

2,681

14%

26

Daman and Diu

216

190

27

14%

27

Pondicherry

897

787

110

14%

28

Jammu and Kashmir

1,827

1,630

197

12%

29

Gujarat

84,309

75,975

8,334

11%

30

Tamil Nadu

51,533

46,496

5,036

11%

31

Goa

9,350

8,648

702

8%

32

Andhra Pradesh

19,947

18,885

1,062

6%

33

Maharashtra

3,15,700

3,01,964

13,735

5%

34

Chandigarh

4,730

4,537

193

4%

35

Meghalaya

873

846

27

3%

36

New Delhi

90,959

88,280

2,680

3%

37

Lakshadweep

5

5

-0

-2%

 

Total

1010271.23

910177.8

100093.43

11%

 

Source: AMFI data

‘Others’ indicates assets from investors whose KYC is incomplete.

Total AUM

In line with previous trends, Maharashtra tops the country in terms of total AUM (41.1%) followed by New Delhi (9.5%) and Karnataka (7.3%), shows AMFI data.

Maharashtra (33% of its total AUM) also has the highest allocation to liquid funds among the top 20 states. This may be due to Maharashtra being a major investment hub with many companies and institutions having their corporate offices here.

Meanwhile, with 74% of Bihar’s AUM being invested in equities, it leads in terms of allocation to equity funds.

In majority of the states, the equity allocation is higher than the debt or liquid allocation. Though Haryana has 47% of its assets in debt funds, it a leader in terms of debt allocation among the states. 

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