Maharashtra, Gujarat and New Delhi – Top three in highest equity AAUM

Maharashtra, Gujarat and New Delhi are the top three states in terms of equity assets, shows the latest AMFI data. 

While Maharashtra accounts for Rs.3.47 lakh crore of equity assets, Gujarat and Delhi contribute Rs.97,300 crore and Rs.90,972 crore as on October 2020.

Mumbai MFD Sadashiv Phene attributes this to the historical affinity towards mutual funds in Maharashtra and Gujarat compared to other states. “While the MF industry is running nationwide campaign to increase awareness about mutual funds, people in Maharashtra and Gujarat have had affinity for equity since very long. These people can take more risk to generate wealth in the long term,” he added.

Gujarat distributor Ulpesh Raj of Ishwar Financial Services feels most Gujaratis are inclined towards equity investment. “Gujaratis believe in stock market and they have seen their friends and family members achieving financial goals due to equity investments. This gives them the confidence to invest in equity funds,” said Ulpesh.

Karnataka and West Bengal stood at fourth and fifth position with equity AAUM of Rs.83,592 crore and Rs.75,123, respectively.

North eastern states like Mizoram, Arunachal Pradesh, Manipur, Meghalaya, Tripura, Sikkim and Nagaland were at the bottom of the list with lowest contribution to equity funds.

However, in terms of proportion of equity assets to the total MF AUM, Manipur, Bihar, Jharkhand and Arunachal Pradesh 70% assets of the MF AUM is in equity funds.