Geographical spread of MFs in India

While Maharashtra is the biggest state in terms of asset under management for mutual funds with over Rs 9.5 lakh crore of assets, the demand for equity is rising in states like Bihar and Jharkhand. Goa stands third amongst 31 states and union territories in terms of MF per capita penetration. Around 86 per cent of AUM of mutual funds is concentrated in eight states and union territories. Maharashtra leads the pack with (Rs 9.54 lakh crore), and it is followed by Delhi (Rs 2.27 lakh crore), Karnataka (Rs 1.68 lakh crore), Gujarat (Rs 1.54 lakh crore), West Bengal (Rs 1.25 lakh crore), Haryana (Rs 1.15 lakh crore), Tamil Nadu (Rs 1.10 lakh crore) and Uttar Pradesh (Rs 0.91 lakh crore), shows AMFI data for the period ending January 2018. As a natural fallout these states have a higher concentration of AMCs as compared to other areas. Maharashtra has the highest number of branches (200), followed by 161 each in Gujarat and Uttar Pradesh, 116 in Karnataka, 112 in Tamil Nadu and 99 in West Bengal. These eight states house the bulk of the branches which comes up to 931 constituting 60 per cent of a total of 1,561 branches all over India. Even though SEBI has introduced sufficient incentives to make mutual funds popular in far flung area