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Share of North East in MF assets more than doubles to Rs 40,324 cr in 4 yrs
The share of North East in overall mutual fund assets in the country more than doubled in the last 4 years to Rs 40,324 crore in March 2024, spurred by increased awareness and growing interest among retail investors to invest in equities, a report by ICRA Analytics said.
Also, this signals a growing appetite among investors from smaller towns and cities to invest in mutual funds.
The combined share of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura rose to 0.73 per cent of the total average asset under management (AAUM) of the mutual fund industry, which stood at Rs 55.01 lakh crore in March 2024. The share was around 0.67 per cent in March 2020, when the industry's AAUM was at Rs 24.71 lakh crore. Data for Sikkim was not provided.
In March 2020, these states had an asset base of Rs 16,446 crore as compared to Rs 40,324 crore in March this year.
"Though the contribution of these states to the total AAUM of the industry is still small in percentage terms,