Maharashtra, Gujarat and New Delhi are the top three states in terms of equity assets, shows recent AMFI data. While Maharashtra accounts for Rs.2.85 lakh crore of equity assets, Gujarat contributes Rs.77980 crore to the equity AUM kitty as on April 2020.
Mumbai distributor Ritesh Sheth of Tejas Consultancy attributes this to large number of working professionals in the state. He said, “Maharashtra is the commercial and industrial hub of India, drawing millions of talented professionals. These people invest in mutual fund investors to achieve financial goals. Also, people in Maharashtra understand financial markets better and are more open to exploring market linked products like mutual funds.”
Gujarat distributor Ulpesh Raj of Ishwar Financial Services says that equity is popular among Gujaratis. “Almost every Gujarati has experience in equity investing and many of them seek professional financial advice to create wealth,” said Ulpesh.
Delhi MFD Tanvir Alam, Fincart pointed out that many people in Mumbai and NCR region have been investing in equity funds to save taxes and get better returns compared to bank FDs.
Further, AMFI data shows that Maharashtra, New Delhi and Haryana are the top three states in debt AUM too. While Maharashtra contributes Rs.2.79 lakh crore to the MF industry’s debt AUM, New Delhi is in second position with Rs.68,785 crore. Haryana (Rs.61,431 crore), Karnataka (Rs.58,440 crore) and Gujarat (Rs.52,148 crore) are the other states with high debt AUM as on April 2020.
In liquid fund category, Maharashtra (Rs.2.88 lakh crore), New Delhi (Rs.62,803 crore), Tamil Nadu (Rs.35,132 crore), Karnataka (Rs.34,648 crore) and Gujarat (Rs.26,824 crore) are the top five states with highest AUM.
