As per Google statistics of search queries relating to mutual funds, it seems that mutual funds haven't been able to provide their services effectively to a large chunk of the country. Mutual funds' assets under management show high polarisation and are concentrated in a few Indian cities, especially Mumbai and Delhi. In spite of the highly skewed AUM of mutual funds, cities with low levels of AUM show profound interest in mutual funds. For example, while just 6 per cent of the industry AUM come from Bangalore, it has a share of 12 per cent in making mutual-fund-related queries on Google.
Perhaps the reason for highly skewed statistics is that fund companies concentrate more on cities from which most business comes, thus making the AUM skewness a self-fulfilling prophecy. They have deployed larger networks in these cities. Nonetheless cities like Bangalore, Hyderabad and Pune have sizable literate population and are in a position to contribute more to the industry's AUM.
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