Small towns account for 16% of MF asset base; Maharashtra biggest contributor among states ...Middle East

The contribution of small towns or B30 cities to mutual fund industry's average assets under management of over Rs 28 lakh crore stood at 16 per cent as of October-end, while state-wise Maharashtra remained the biggest contributor to the assets base, industry body Amfi said. Since last few years, markets regulator Sebi has been pushing asset management companies to reach out to small towns for increasing their assets base.

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