Which states have the highest equity and non-equity AUM?

A Cafemutual analysis of AMFI data of state and union-territory AUM reveals that Maharashtra, Gujarat and Karnataka have the highest equity AUM in September 2024. 

Maharashtra commands the highest equity assets in the country of Rs. 11.82 lakh crore. The state derives 43% of its total assets from equity funds.

Gujarat and Karnataka occupy the next two spots with equity AUM of Rs. 3.48 lakh crore AUM and Rs. 3.30 lakh crore, respectively.

New Delhi and Uttar Pradesh take the fourth and fifth positions with equity AUM of Rs. 3.13 lakh crore and Rs. 2.71 lakh crore, respectively. 

Following the top 5 are West Bengal, Tamil Nadu, Haryana Rajasthan and Madhya Pradesh.

In terms of proportion of equity assets to the total AUM, Tripura sees 92% of its total AUM coming from equity funds. 

Not so far behind are Jammu and Kashmir, Arunachal Pradesh and Andaman & Nicobar Islands with 91% of their assets coming from equity funds. 

Bihar and Manipur have also recorded healthy equity share in their AUM of 89%.  

Overall, the equity AUM across states & UTs is at Rs. 38.91 lakh crore in Sept 2024. 

Let us look at the table to know more.

Non-equity AUM

Ranking changes slightly when it comes to non-equity assets which include AUM of debt funds, international funds and gold ETFs. Maharashtra, New Delhi and Karnataka are the leaders when it comes to non-equity AUM. 

Maharashtra has the highest non-equity AUM of Rs. 15.67 lakh crore. It derives 57% of its total assets from these funds. 

New Delhi comes second with non-equity AUM of Rs. 2.36 lakh crore while Karnataka rounds off the top 3 with non-equity AUM of Rs. 1.41 lakh crore.

Gujarat and Tamil Nadu are next with non-equity AUM of Rs. 1.35 lakh crore and Rs. 1.04 lakh crore, respectively. 

Following the top 5 are West Bengal, Haryana, Uttar Pradesh, Telangana and Rajasthan which have recorded healthy non-equity AUM.

In terms of proportion of non-equity assets to the total AUM, Maharashtra and New Delhi are again the leaders with non-equity schemes forming 57% and 43% of their AUM, respectively. Haryana is at the third spot with 37% of its AUM coming from non-equity.

Tamil Nadu and Mizoram are the next with 34% of the total assets coming from non-equity schemes.

Other states and UTs with high share of non-equity in their AUM include Karnataka, Gujarat, Nagaland, West Bengal and Telangana. 

Overall, non-equity AUM across states and UTs is at Rs. 25.65 lakh crore. 

Let us look at the table to know more.

Total AUM

Maharashtra, New Delhi and Gujarat have the highest MF AUM. They have  total MF assets of Rs. 27.49 lakh crore, Rs. 5.49 lakh crore and Rs. 4.83 lakh crore AUM, respectively.

Karnataka and West Bengal are next with overall AUM of Rs. 4.71 lakh crore and Rs. 3.45 lakh crore, respectively.

Other states in the top 10 list in terms of total MF AUM are Uttar Pradesh, Tamil Nadu, Haryana, Rajasthan and Telangana.

Let us look at the table to know more.