Ahmedabad: Supported by fresh inflows into equity funds, Ahmedabad has PPPED Chennai in mutual fund investment (MF) and is now ranked sixth among Indian cities with the highest mutual fund assets.
Total assets under management (AUM) mutual funds in Ahmedabad grew 41% per year to RS1.12 Lakh Crore in 2021.
MF Chennai’s asset base, at the same time, up 8.7% to settle at RS 92,252 Crore, showing data compiled By the mutual fund association in India (AMFI), which has placed Chennai in sixth position in June last year.
“With the planned capital expenditure for businesses that stop increasing economic uncertainty because of a pandemic, people are looking for ways to park their money that will produce them back,” said Mumukshu Desai, Director at a financial advisory company based in Ahmedabad.
“Because the equity market gives good returns, some investors invest their money in mutual funds.
The growth of the Ahmedabad Mutual Fund Asset Base is very visible because investors here increasingly turn to mutual funds related to equity for the past year.
This is true in cases of retail individuals and networth (HNI), “he said, adding that institutional investors have also invested surplus money in debt funds.
Constant surge in the stock market index since June last year has pushed the value of clean assets from the mutual fund scheme.
Financial consultants said the inflow into a systematic investment plan (SIPS) also continued over the past 12 months, triggered AUM growth.
“SIPS is paused while by those who experience deficiencies in business income or PTCUT Post the Lockdown.
But these individuals continue investment later because their income is restored.
During the following months, the inflows and net inflows in SIPS surged to the highest lifetime In June 2021 throughout the country.
The trend in Gujarat is also similar, “said a financial consultant based in Ahmedabad, Jayesh Vithalani.
“In fact, several new Demat accounts were opened during this period.
Traction on MF investment is higher than young people, who are now more aware of the creation of wealth,” Vithalani added.
Ahd pips Chennai in mutual fund investment
