 "Mutual funds' business in smaller cities up 15% in FY16")
Assets (or MF business) from India's smaller cities and towns, called B-15 cities (beyond top 15 cities, or T-15), grew 15.4 per cent in FY16 to Rs 2.19 lakh crore from Rs 1.9 lakh crore last year. Assets from T-15 stood at 11.3 per cent; total asset growth was 12 per cent.
Nearly 49 per cent of B-15 assets are in equity schemes; for T-15 only 28 per cent was in equity segment. Twenty three per cent of individual assets are from B-15.
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