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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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