Mutual Fund Industry witnesses sequential decline in almost half of the states in India in October 2023

Nearly half of the 37 states and union territories in India witnessed sequential decline in Average Assets under Management (AAUM) in October 2023. Mizoram witnessed the maximum decline of 4.99% followed by Daman and Diu (3.15%) and Arunachal Pradesh (3.14%).

Maharashtra continues to have the highest contribution with a share of 40.94%, followed by New Delhi at 8.59%, Gujarat and Karnataka at 6.91% each and West Bengal at 5.31%. The top 5 states accounted for around 69% of total contribution.

AAUM contribution from Maharashtra fell marginally from Rs. 19.60 lakh crore in Sep 2023 to Rs. 19.57 crore in Oct 2023.

Equity oriented schemes continues to witness the maximum share from all states except for Mizoram and Lakshadweep, where investments in Liquid Schemes and Other Debt Oriented Schemes, respectively, contributed the most among all other categories in October 2023.

Growth/Equity Oriented Schemes contributed the most towards AAUM in October 2023, which stood at 48.55%. It was followed by Other Oriented Schemes and Liquid Schemes, whose contribution stood at 18.83% and 14.15%, respectively.

With a relatively lower share, Other Exchange Traded Funds was at 11.71%, Balanced Schemes at 5.78%, Gold Exchange Traded Fund at 0.52% and Fund of Fund Investing Overseas at 0.46%.

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