Small towns contribute 15.3% to MF industry's assets under management

Small towns or B30 (beyond top 30 cities) cities contributed 15.3 per cent to mutual fund industry’s assets under management of Rs 25.64 trillion as of August-end, and Maharashtra remained the biggest contributor to the assets base.
 
Over the past few years, markets regulator Sebi has been pushing asset management companies to reach out to small towns for increasing their assets base.
 
According to the Association of Mutual Fund Industry data collated by rating agency ICRA, B30  accounted for 15.30 per cent of the total industry AAUM in August this year, as against 15.49 per cent in July and 14.48 per cent in August 2018.