BHUBANESWAR: Odisha’s contribution to the national mutual fund industry has increased from 0.57 per cent (pc) in March 2015 to 0.91 pc on October 30 this year.
Speaking at the Retail Saving Opportunity Conclave organised by Indian Chamber of Commerce (ICC) here, Executive Director of Security and Exchange Board of India (SEBI) SV Murali Dhar Rao acknowledged that mutual fund market in the State is growing at a healthy rate.
“Though the contribution to the national basket has been low, the growth of the industry in the State is impressive. With more people are coming forward to invest in mutual funds, the market is expected to grow further,” he said.
Assets Under Management (AUM) of the industry in the country, Rao said, has doubled in the last five years. The contribution of retail investors to the AUM is 26 pc and most of their funds are invested in the equity. Only eight pc retail investors are in the non-equity sector, he said.
Rao said SEBI has taken several initiatives for the protection of the interest of retail investors. Member of ICC National Expert Committee on BFSI Sudhir Roy Choudhury, president and country head of UTI Asset Management Co Ltd Debasish Mohanty also spoke.