Mutual funds assets in NE states up 145% in 3 years to Rs 40K crore

Assam leads the region with an Aum of Rs 29,268 crore accounting for 73% of the AUM of Rs 40,234 crore in March 2024.
The AUM crossed Rs 57.3 trillion last month, according to a tabulation of statewise data by Icra Ratings.
The AUM crossed Rs 57.3 trillion last month, according to a tabulation of statewise data by Icra Ratings.

MUMBAI: Led by Assam with a share of 73%, the average mutual funds assets under management from the Northeastern states have grown by nearly 145% from Rs 16,446 crore in March 2020 lows to touch Rs 40,324 crore in March 2024, indicating the growing appetite among small towns for this passive investment avenue.

Shares of the seven states rose to 0.73% of the industry AUM of Rs 55.01 trillion in March 2024, up from Rs 24.71 trillion in March 2020.

The AUM crossed Rs 57.3 trillion last month, according to a tabulation of statewise data by Icra Ratings.

Assam leads the region with an AUM of Rs 29,268 crore, accounting for 73% of the AUM of Rs 40,234 crore in March 2024. This is a growth of 159% in the last four years, up from Rs 11,298 crore in March 2020.

Meghalaya accounted for 9% at Rs 3,623 crore in March 2024, clocking 111% growth over Rs 1714 crore in March 2020.

Tripura comes next with 5% at Rs 2,174 crore (Rs 1,155 crore in March 2020); Nagaland 4% at Rs 1,668 crore (`965 crore); Arunachal 3.8% at Rs 1,532 crore (Rs 525 crore; Manipur 2.9% at Rs 1,152 crore (Rs 403 crore) while Mizoram accounted for 2.25% at Rs 907 crore (Rs 386 crore), show the data.

Maharashtra leads the states with a share of 44%.

“There has been a steady rise in awareness about investment options, mainly in smaller towns and cities. This, coupled with growing financial literacy and the surge in interest among retail investors for investing in equities via mutual fund route.”

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