India's smaller cities and towns, known as Beyond-15 (B15) cities in mutual fund sector's parlance, have emerged as a sizeable contributor to the mutual fund assets over the past two years.
Buoyed by special incentives from the market regulator, the Securities and Exchange Board of India (Sebi), B-15 towns have become the focal point for several mutual fund houses. As of December 2015, the total assets under management (AUM) from B-15 centres stood at Rs 2.16 lakh crore, nearly one-fifth of assets from top 15 cities. A year ago, the B15 AUM had stood at Rs 1.89 lakh crore. The investor accounts from these centres have increased by nearly five million to 23 million.
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