Almost one-third of the mutual fund AUM comes from Mumbai. Based on the statistics available with the Association of Mutual Funds Industry (AMFI), Mumbai has contributed about 32.55 percent of the total 23,05.000 crore Rupees AUM in March 2018.
As per the statistical values, it can be considered that Mumbai investors have invested about 768,000 crore Rupees in mutual funds in March 2018.
The primary reason for Mumbai’s huge investment in mutual funds is that the commercial capital of India serves as the head office of several corporates, which invests hugely in mutual fund schemes.
While the commercial capital of India is in the first place with 32.55 percent, Delhi holds the second place with 15.92 percent of the assets under management of the mutual fund industry. Bengaluru, Kolkata, Pune and Chennai stands in the third, fourth, fifth and sixth places with 6.40 percent, 4.28 percent, 4.22 percent and 3.46 percent of the total AUM, respectively. Nagpur is in the fifteenth place with 0.46 per cent of the total AUM.
Mumbai, Pune and Nagpur of Maharashtra together contribute about 37.23 percent of the total mutual fund AUM.
Based on the available AMFI figures, income schemes and equity schemes got the maximum collection out of the total inflow into the mutual fund sector.
The mutual fund industry witnessed an overall add-on of 32 lakh new investors from 2017 to 2018. The industry also speculated AUM growth of 25 percent and retail AUM growth of 38 percent until February 2018, when compared to last year.
The folio accounts and SIP accounts witnessed a growth of 26 percent and 52 per cent (70 lakhs), respectively, during the same period of time. Monthly SIP contribution reached 6,425 crore Rupees from 2.05 crores, said AMFI.
“Given the rising household incomes and higher appetite towards financial savings coupled with long-term India growth story, we are sure that mutual funds would become the investment option of choice of every household in the years to come,” said the AMFI chairman A Balasubramanian, according to The IndianExpress.
The mutual fund industry had seen a huge inflow from 2017 to 2018 as the investors were provoked because of the stock market improvement and the demonetisation exercise, resulting in the huge growth of the mutual fund AUM.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]