MF industry need to reach B15 cities for achieving vision of Rs 95 lakh cr AUM

Recently, while speaking at an industry event held in Mumbai, Security Exchange Board of India (SEBI) chairman Ajay Tyagi told the asset management company (AMCs) need to put more efforts in order to reach to investors in B15 cities.

Over the last few years, the mutual fund (MF) industry has doubled its AUM in B15 cities but still it cover only 16 per cent of the total MF AUM.

Ajay Tyagi advised to use IAP corpus for reaching to the investors in the B15 cities. He also advised to the fund officials to reach to the peoples via ground level activities and advised to use digital media for creating awareness about the mutual funds.

He further said that the vision of Association of Mutual Fund of India (AMFI) for achieving Rs 95 lakh crore of AUM will not be possible if only T15 cities will be leveraged by the MF industry.  For increasing this, industry needs to increase more participation from B15 cities as according to the AMFI’s data over 50 per cent of the retail folios are from the B15 cities.