The assets under management (AUM) of the mutual fund industry have seen a relatively higher growth from smaller towns and cities in FY18 primarily driven by equity products.
This according to fund managers suggests that a higher proportion of investors from smaller cities prefer equity to other asset classes.
According to the data available with the industry body AMFI, the assets from B15 locations (beyond top 15 cities) have increased from Rs 3.09 lakh crore in March 2017 to Rs 4.27 lakh crore in March 2018, posting a growth of 38 per cent when compared to 19 per cent growth in top 15 cities from Rs 15.48 lakh crore to Rs 18.44 lakh crore during the same period.
