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Smaller cities invest more in mutual funds in second half of FY11-12

Smaller cities contributed Rs. 75 billion more to the industry's AUM during the second half of the previous financial year

May 24, 2012 1:19 IST | India Infoline News Service
According to AMFI (Association of Mutual Funds in India) data, the industry’s assets under management (AUM) as on 31 March 2012 stood at Rs 5.87 trillion against Rs 6.42 trillion on 30 September 2011.
It is reported that between the six month period (from 30 September 2011 and to 31 March 2012), the proportion of assets contributed by Tier-I, II & III cities in AUM of the Indian mutual fund industry rose 3.63% to 28.88%.
These cities include Pune, Ahmedabad, Jaipur, Lucknow, Patna, Ludhiana, Varanasi, Indore and Bhubaneshwar, among others. In absolute terms, these cities contributed Rs. 75 billion more to the industry's AUM during the second half of the previous financial year.
However, in the same period the contribution from major cities—Mumbai, New Delhi, Bengaluru, Chennai and Kolkata—declined from 74.75% to 71.12%. In terms of assets, the contribution declined to around Rs. 622 billion.
The figures indicated that Indian investors from smaller cities have invested more in mutual funds during the second half of the previous financial year.

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