Unveiling the Financial Powerhouses – Maharashtra Takes the Lead in Mutual Fund Investments
Maharashtra’s Mutual Fund Triumph
In a financial landscape defined by mutual fund prowess, Maharashtra emerges as the undisputed leader during the July-September Quarter of Fiscal Year 2024 (Q2FY24).
According to the latest data from the Association of Mutual Funds in India (AMFI), Maharashtra takes the lead with a formidable equity asset of Rs 7.47 lakh crore, constituting a substantial portion of the industry’s total equity asset, pegged at Rs 25.85 lakh crore.
Regional Dynamics: Gujarat and Karnataka Follow Suit
Gujarat’s Financial Ascendancy
- Gujarat claims the second position with an impressive equity asset of Rs 2.21 lakh crore, contributing significantly to the overall industry equity asset.
Karnataka’s Financial Foothold
- Karnataka secures the third spot with a noteworthy equity asset of Rs 1.99 lakh crore, reinforcing its financial prowess in the mutual fund arena.
- Delhi, which held the fourth rank, experienced a dip in equity assets, now standing at Rs 1.94 lakh crore.
Key Points and Rankings Unveiled
Uttar Pradesh’s Rise
- Uttar Pradesh (UP) secures the fifth position with a commendable equity asset of Rs 1.66 lakh crore, surpassing West Bengal and Tamil Nadu.
- Gujarat emerges as a significant contributor to Systematic Investment Plan (SIP) inflows, accounting for 7% with an inflow of around Rs 1200 crore.
Punjab’s Strong Comeback
- Punjab makes a robust return, clinching the twelfth position with an equity asset of Rs 45,149 crore. Surpassing Telangana and Kerala, Punjab showcases its financial resilience.
In a Nutshell
Maharashtra’s financial prowess echoes in the mutual fund arena, setting the tone for regional competition. As Gujarat leads in SIP inflows and Punjab makes a formidable comeback, the Q2FY24 dynamics reveal the evolving landscape of mutual fund investments in India. Stay tuned for more insights into the financial tapestry shaping the nation’s economic trajectory.
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