Mumbai and Delhi together account for about 45 per cent of the total equity mutual fund assets under management (AUM), the Boston Consulting Group (BCG) and Computer Age Management Systems' (CAMS) report on the Equity Mutual Funds industry said.
India's mutual fund industry's average assets under management (AUM) is pegged at Rs 8,05,239-crore in June 2010.
According to the report, the concentration of equity AUM in the top cities is fast diminishing. The share of AUM beyond the top ten cities increased rapidly from about 10 per cent in March 2003 to about 26 per cent in March 2010.
Mumbai and Delhi together account for about 45 per cent of total equity AUM, and the top 30 cities account for about 90 per cent of total equity AUM, the report said.
"We believe that the Indian equity mutual funds industry is likely to continue growing rapidly for the next five to six years given many favourable factors such as under penetration, high economic growth rate, tax benefits such as equity linked savings schemes, and enhanced presence in household savings products," the report said.
"The mutual fund asset under management is expected to grow by 20-30 per cent over the next five year period, as compared to 35 per cent growth registered in last five years," BCG's Partner & Director, Alpesh Shah told reporters here.
Source: http://economictimes.indiatimes.com/articleshow/6075258.cms
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