Equity funds are becoming popular across geographies. Bihar, Manipur and Jammu and Kashmir have the highest allocation in equity funds today.
An analysis of AMFI data shows that these three states have at least 70% exposure to equity funds. While 74% of Bihar’s AAUM as on March 2019 came from equity-oriented schemes, Manipur and Jammu and Kashmir have 71% and 68% of their assets in equity funds, respectively. Among debt funds, Haryana tops the chart with 71% of its assets in debt oriented schemes.
Manu Mehrotra, a Patna-based MF distributor said that most investors in Bihar are retail and they usually prefer equity funds. These retail investors invest in mutual funds for long-term goals such as retirement and children’s education; banks and IFAs too suggest equity funds for such goals, he said.
Other states having over 60% exposure to equity funds are Kerala, Nagaland, Madhya Pradesh, Uttarakhand, Punjab, Uttar Pradesh, Andhra Pradesh, and Chhattisgarh. None of these has however featured in the list of 10 states having the highest equity assets.
In absolute terms, Maharashtra, New Delhi, Gujarat, Karnataka and West Bengal have the highest equity AAUM as on March 2019.
Among debt funds, in absolute terms, there was only one change in the top-five list: Gujarat made it into this list by replacing West Bengal. The other four states having the highest exposure to debt funds in absolute terms are Maharashtra, New Delhi, Haryana and Karnataka.
State-wise AUM
|
State |
AAUM as on Mar 2019 (in Rs. crore) |
Equity AAUM (in %) |
Non- equity AAUM (in %) |
Equity AAUM (in Rs crore) |
Non Equity AAUM (in Rs. crore) |
|
Bihar |
17,500 |
74 |
26 |
12,950 |
4,550 |
|
Manipur |
400 |
71 |
29 |
284 |
116 |
|
J&K |
2,800 |
68 |
32 |
1,904 |
896 |
|
Kerala |
25,900 |
66 |
34 |
17,094 |
8,806 |
|
Nagaland |
600 |
65 |
35 |
390 |
210 |
|
Madhya Pradesh |
31,500 |
64 |
36 |
20,160 |
11,340 |
|
Uttarakhand |
8,700 |
63 |
37 |
5,481 |
3,219 |
|
Punjab |
28,400 |
62 |
38 |
17,608 |
10,792 |
|
Uttar Pradesh |
1,01,400 |
61 |
39 |
61,854 |
39,546 |
|
Andhra Pradesh |
34,400 |
60 |
40 |
20,640 |
13,760 |
|
Chhattisgarh |
13,100 |
60 |
40 |
7,860 |
5,240 |
|
Goa |
16,500 |
59 |
41 |
9,735 |
6,765 |
|
Himachal Pradesh |
4,800 |
58 |
42 |
2,784 |
2,016 |
|
Assam |
11,300 |
57 |
43 |
6,441 |
4,859 |
|
Meghalaya |
1,700 |
55 |
45 |
935 |
765 |
|
Odisha |
21,900 |
55 |
45 |
12,045 |
9,855 |
|
Rajasthan |
43,000 |
52 |
48 |
22,360 |
20,640 |
|
Sikkim |
1,100 |
51 |
49 |
561 |
539 |
|
West Bengal |
1,32,300 |
51 |
49 |
67,473 |
64,827 |
|
Gujarat |
1,75,100 |
50 |
50 |
87,550 |
87,550 |
|
Tamil Nadu |
1,13,000 |
47 |
53 |
53,110 |
59,890 |
|
Arunachal Pradesh |
600 |
46 |
54 |
276 |
324 |
|
Karnataka |
1,78,500 |
45 |
55 |
80,325 |
98,175 |
|
Telangana |
41,000 |
45 |
55 |
18,450 |
22,550 |
|
Tripura |
1,400 |
43 |
57 |
602 |
798 |
|
New Delhi |
2,26,000 |
40 |
60 |
90,400 |
1,35,600 |
|
Maharashtra |
9,98,500 |
32 |
68 |
3,19,520 |
6,78,980 |
|
Haryana |
1,25,600 |
27 |
73 |
33,912 |
91,688 |
|
Mizoram |
400 |
27 |
73 |
108 |
292 |
Source: AMFI
