Top 10 states in equity, debt and hybrid assets

An analysis of AUM data released by AMFI shows that Maharashtra has the highest AUM across all fund categories, be it equity, debt or hybrid.

Let us look at the ranking of top 10 states across fund categories.

State wise equity AUM

Maharashtra, Gujarat and Karnataka are the top three states in terms of highest equity assets as on June 2024.

Of the total Rs.33 lakh crore in equity AAUM, Rs. 9.50 lakh crore or 29% of the total equity assets come from Maharashtra.

Gujarat, Karnataka and New Delhi occupy the next three spots with equity AUM of Rs.2.75 lakh crore, Rs.2.67 lakh crore and Rs.2.57 lakh crore, respectively. These three states contribute 8% each to the total equity AUM.

Interestingly, Uttar Pradesh comes fifth with equity AUM of Rs.2.15 lakh crore.

The top 5 states contribute 60% to the total equity AUM kitty.

Other states in the top 10 list are West Bengal, Tamil Nadu, Haryana, Rajasthan and Madhya Pradesh.

Collectively, these top 10 states contribute approximately Rs.26 lakh crore, representing 79% of the total equity AAUM of Rs.33 lakh crore.

Let’s look at the table.

State wise debt AUM other than liquid funds

Maharashtra, New Delhi, Karnataka, Gujarat and West Bengal are the top five states in debt assets.

Maharashtra has the highest debt assets of AUM of Rs.3.47 lakh crore contributing 38% to the total debt AUM of Rs.9.26 lakh crore across all states.

Following Maharashtra, New Delhi, Karnataka and Gujarat have equity AUM of Rs.1.34 lakh crore, Rs.74,000 crore and Rs.69,000 crore, respectively. New Delhi accounts for 15% of the industry’s total debt assets whereas Karnataka and Gujarat contribute 8% and 7% to the debt kitty.

Other states in the list include West Bengal, Tamil Nadu, Haryana, Uttar Pradesh, Telangana and Rajasthan.

The top 10 states collectively contribute Rs.8.33 lakh crore, representing 90% of the total debt AAUM of Rs.9.26 lakh crore.

Let us look at the top 10 states/ UTs with the debt assets:

State wise hybrid AUM

In hybrid schemes, Maharashtra, Gujarat, West Bengal, Karnataka and Uttar Pradesh are the top five states.

Maharashtra has the highest hybrid assets of Rs.98,000 crore. It contributes 28% to the total hybrid AUM of Rs.3.49 lakh crore.

Gujarat, West Bengal and Karnataka are next in the list with AUM of Rs.33,000 crore, Rs.31,000 crore and Rs.22,800 crore, respectively.

Interestingly, Uttar Pradesh overtook New Delhi with assets of Rs.21,000 crore, contributing 6% of the total AUM.

Next in the list are New Delhi, Tamil Nadu, Madhya Pradesh, Jharkhand and Haryana.

Overall, the top 10 states in hybrid schemes contribute Rs.2.68 lakh crore representing 77% of the total AUM of Rs.3.49 lakh crore under hybrid funds.

Let us look at the top 10 states with the highest hybrid assets:

Commenting on the growth in equity and hybrid assets in UP, MFD Ankush Thukral of Thukral Capital, Bhadohi, UP feels that many people are getting educated about investments and are showing interest in investing in equities. He said that people in UP are increasingly choosing mutual funds over fixed deposits.