Small centres pip metros in MF asset growth
One out of every five rupees in the domestic Rs 12 lakh crore mutual fund (MF) sector now belongs to investors in smaller cities. Assets under management (AUM) from beyond the top 15 cities (B15 in sector parlance) are rising at over double the pace of overall segment since the Narendra Modi-led BJP government took charge in May 2014. Growth of assets from the B15 centres grew 56 per cent from Rs 1.5 lakh crore to Rs 2.3 lakh crore between May 2014 and May 2015. In comparison, the overall sector assets grew 24 per cent and from Rs 9.9 lakh crore to Rs 12.3 lakh crore.