At 44%, Maharashtra contributes the most to MF AUM, shows an analysis.
SEBI’s incentive to AMCs to charge a higher TER seems to be yielding the desired results. AMFI data shows that the industry’s AUM from B-15 cities has gone up from 12 % in September 2011 to 14% in September 2014.
Fund houses are taking a number of measures such as investing in investor awareness, enrolling new cadre of distributors, tying up with banks to expand their footprint.
State-wise Maharashtra continues to lead accounting for 44% of the Rs.11.28 lakh crore total AUM managed by the mutual fund industry as on December 2014. This was largely due to contribution from liquid and debt funds as most banks and corporate offices are situated in Mumbai. About 59% of the industry’s total liquid fund assets came from Maharashtra. Similarly, 40% of the overall debt fund assets were sourced from Maharashtra.
This was followed by New Delhi (Rs.1.02 lakh crore or 9% of AUM), Karnataka (Rs.78,940 crore or 7% of AUM) and Gujarat (Rs. 65,486 crore or 6% of total AUM).
Currently, there are 13 states in India which contribute over Rs.10,000 crore AUM, making up for close to 95% to the industry’s AUM.
Equity Funds:
Maharashtra has the highest contribution to the equity AUM in the mutual fund industry. It contributed Rs. 1.08 lakh crore or 34% of total equity AUM of Rs. 3.13 lakh crore as on December 2014. The was followed by Karnataka which contributed Rs. 24,248 crore, closely followed by Delhi (Rs.23,935 crore) and Gujarat (Rs.22,847 crore).
Distributors say that if the bull market sustains, other states will also contribute meaningfully in future.
