AHMEDABAD: The assets under management (AUM) of mutual funds in Ahmedabad grew by 13% to Rs 1.27 lakh crore in September from Rs 1.21 lakh crore at the end of June this year, shows data provided by the company. Mutual Fund Association in India (amphi) is the 6th largest mutual fund in Ahmedabad AUM Among all Indian cities. In fact, Ahmedabad accounts for a lion’s share of 49.4% of Gujarat’s Rs 2.57 lakh crore AUM in September this year.
“Ahmedabad-based investors are more inclined towards stock market investments and equity-linked mutual funds than fixed income assets. With the rise in market indices, the mark-to-market value of prevalent equity investments increased,” it said. Mumukshu DesaiDirector of a financial advisory firm based in Ahmedabad.
“Ahmedabad-based investors are more inclined towards stock market investments and equity-linked mutual funds than fixed income assets. With the rise in market indices, the mark-to-market value of prevalent equity investments increased,” it said. Mumukshu DesaiDirector of a financial advisory firm based in Ahmedabad.
lure of good returns
Besides, fresh inflows continued in the equity markets as investors were lured by good returns, resulting in an increase in the total AUM from the city,” said Mumukshu Desai, director of the Ahmedabad-based financial advisory firm.
“SIP inflows remain good and consistent. With more awareness among young professionals, many of them have started their savings with SIP which continues over a period. Moreover, with several new fund offers (NFOs), retail investors as well as high net worth individuals (HNIs) are investing heavily in equity mutual funds, all these have driven the growth of AUM in Ahmedabad. Jayesh Vithalani, a financial advisor based in Ahmedabad.
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