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Maharashtra tops MF chart with equity assets of Rs 1.21 lakh crore

Maharashtra continued to dominate the mutual fund landscape in the country with an assets base of Rs 1.21 lakh crore at the end of April in equity-oriented schemes, followed by Delhi in the second place.

A big share of mutual fund presence originates from Maharashtra because the state houses the headquarters of most of the large companies, thereby getting a bulk of investments through non-retail or institutional routes, experts noted.

In terms of state-wise equity assets, Maharashtra led with Rs 1.21 lakh crore, taking up a 35 per cent share of the market, as per the data compiled by Prime Database.

Delhi followed, though far behind, with Rs 28,058 crore and Karnataka with Rs 27,625 crore. Further, Gujarat has an assets base of Rs 25,402 crore in equity-oriented schemes, while the same for West Bengal was at Rs 21,189 crore.

In terms of the annual growth (for states with an AUM of more than Rs 1,000 crore), Delhi led with a 158 per cent growth, followed by Haryana 117 per cent and Jharkhand 105 per cent.

Among other states, Uttar Pradesh has an assets base of Rs 18,172 crore, followed by Tamil Nadu (17,466 crore), Andhra Pradesh + Telangana (Rs 12,628 crore), Haryana (Rs 8,812 crore) and Rajasthan (Rs 7,238 crore).

Notably, there are many states with assets under management (AUM) of less than Rs 1,000 crore. This included Himachal Pradesh, Meghalaya, Jammu & Kashmir, Meghalaya, Sikkim and Pondicherry.

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