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An analysis of state-wise penetration of mutual funds reveals that New Delhi, Goa and Maharashtra were the top three states in terms of average AUM per capita. These states have reported an average AUM per folio of Rs.1.90 lakh, Rs.1.60 lakh and Rs.1.50 lakh, respectively.
Interestingly, these are the only three states that have an average AUM per capita of over Rs.1 lakh.
Average AUM per folio of each state is calculated by dividing the total AUM of a state or UT and the total number of folios in the state.
Haryana and Karnataka were the next two states with an average AUM per folio of Rs. 49,000 and Rs. 46,000, respectively.
Interestingly, smaller states and UTs like Sikkim and Andaman and Nicobar made it to the list of top ten states/UTs with highest AUM per folio. Let’s look at the top ten states showing highest AUM per folio in the table.
|
States/UTs |
Average AUM per capita |
|
New Delhi |
1,97,860 |
|
Goa |
1,64,300 |
|
Maharashtra |
1,54,060 |
|
Haryana |
49,000 |
|
Karnataka |
46,310 |
|
Gujarat |
44,480 |
|
Tamil Nadu |
26,910 |
|
Sikkim |
24,120 |
|
West Bengal |
23,600 |
|
Andaman and Nicobar Islands |
21,340 |
Average AUM to GDP Ratio
Maharashtra has the highest average AUM to GDP ratio at 67%. New Delhi and Goa were second and third with average GDP ratio of 50% and 31%, respectively.
The average AUM to GDP ratio is the total assets of the state divided by its GDP. Gujarat and Haryana were the next two states with highest average AUM to GDP ratio.
Here also, two smaller states Jharkhand (14%) and Meghalaya (9%) made it to the top 10. Let’s look at the top 10 states with highest AAUM to GDP ratio:
|
States/UTs |
Average AUM as the % of GDP |
|
Maharashtra |
67% |
|
New Delhi |
50% |
|
Goa |
31% |
|
Gujarat |
19% |
|
Haryana |
19% |
|
Karnataka |
18% |
|
West Bengal |
18% |
|
Jharkhand |
14% |
|
Tamil Nadu |
11% |
|
Uttar Pradesh |
11% |
|
Punjab |
10% |
|
Meghalaya |
9% |
|
Rajasthan |
8% |
|
Orissa |
8% |
|
Chhattisgarh |
8% |
Here is the complete list of states based on AUM per folio and AUM as % of the GDP as on June 2023 AAUM.
|
States/UTs |
AUM per folio |
AAUM % of GDP |
June 2023 AAUM (Rs. in crores) |
|
Maharashtra |
1,54,060 |
67% |
18,99,500 |
|
New Delhi |
1,97,860 |
50% |
3,99,500 |
|
Karnataka |
46,310 |
18% |
3,07,100 |
|
Gujarat |
44,480 |
19% |
3,06,300 |
|
West Bengal |
23,600 |
18% |
2,30,100 |
|
Tamil Nadu |
26,910 |
11% |
2,04,600 |
|
Uttar Pradesh |
8,520 |
11% |
1,94,300 |
|
Haryana |
49,000 |
19% |
1,42,500 |
|
Rajasthan |
10,020 |
8% |
78,500 |
|
Madhya Pradesh |
7,690 |
7% |
64,100 |
|
Telangana |
16,940 |
6% |
63,500 |
|
Andhra Pradesh |
10,860 |
6% |
57,000 |
|
Punjab |
17,050 |
10% |
51,300 |
|
Kerala |
14,370 |
6% |
50,700 |
|
Jharkhand |
11,800 |
14% |
44,800 |
|
Orissa |
9,520 |
8% |
41,800 |
|
Bihar |
3,310 |
6% |
40,100 |
|
Chhattisgarh |
9,120 |
8% |
26,600 |
|
Goa |
1,64,300 |
31% |
25,500 |
|
Assam |
6,620 |
7% |
22,900 |
|
Uttarakhand |
16,860 |
7% |
19,000 |
|
Himachal Pradesh |
13,860 |
7% |
10,200 |
|
Jammu and Kashmir |
4,250 |
3% |
5,600 |
|
Meghalaya |
9,470 |
9% |
3,100 |
|
Sikkim |
24,120 |
5% |
1,600 |
|
Tripura |
4,060 |
3% |
1,600 |
|
Nagaland |
7,000 |
5% |
1,500 |
|
Mizoram |
9,540 |
5% |
1,100 |
|
Arunachal Pradesh |
6,660 |
4% |
1,000 |
|
Manipur |
2,610 |
3% |
800 |
|
Andaman and Nicobar Islands |
21,340 |
7% |
700 |
