Odisha people have invested Rs 30,000 crore in Mutual Fund: Radhika Gupta

radhika gupta

Last Updated September 06, 2023

radhika gupta

Bhubaneswar, Sept 6: People from Odisha have invested Rs 30,000 crore in Mutual Fund (MF), and Rs 15,000 crore from Bhubaneswar city only, said Radhika Gupta, MD, and CEO of Edelweiss MF during her Bhubaneswar visit on Tuesday.

The growth in mines 7 minerals sector and industrialisation has helped in investment in MF. The infrastructure development in Odisha has created a niche and MF investment will grow in coming days, she added.

Odisha investors are showing more interest in equity followed by corporate and High Net-worth Individual (HNI). Around 40 percent investment is from corporate sector.

Now more people are showing interest in MF than earlier. The investment starts from Rs 100 as penetration in this industry has been slow in the country.

India's MF AUM to GDP ratio stands at only 16%, compared to the global average of 80%. The systematic investment plan (SIP) is leading in the sector as it is the most convenient way of investing in a mutual fund scheme. Salaried persons are showing more interest in SIP. During 2017 around 4,000 to 5,000 crore investment was coming to SIP which has touched Rs 15,000 crore by July 2023, she added.

 

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