Small states boost mutual fund industry

Growth in assets from the Northeast, Hindi belt much faster than in traditional centres

Growth in mutual fund (MF) assets from smaller states outpaced the industry growth rate in the past one year.

While total assets under management (AUM) increased 30 per cent, assets from several smaller states have grown between 50 per cent and 155 per cent.

Northeastern states such as Arunachal Pradesh, Assam, Meghalaya and Mizoram have reported growth in excess of 58 per cent. Further, regions comprising the states of Bihar, Jharkhand, Chhattisgarh, Madhya Pradesh, Uttarakhand and Himachal Pradesh, too, registered a growth of over 50 per cent in their MF assets. Although the growth has come on a relatively low