West Bengal ranks sixth in average AUM of MFs

West Bengal is ranked sixth in the list of country's top ten states with average asset under management (AUM) of Rs 84,600 crore in mutual funds as on October 16.
Investment advisory services firm Morning Star said Maharashtra topped the list with 44 per cent of average AUM of Rs 7,22,800 crore, followed by New Delhi Rs 167300 crore or 10 per cent.
Karnataka has AUM of Rs 120700 crore and Gujarat Rs 113900 - a share of about 7 per cent, Haryana has Rs 92300 crore or 6 per cent of average AUM of MF assets.
"West Bengal ranked sixth with five per cent of average AUM of Rs 84,600 crore," Morning Star director investment advisory, Dhaval Kapadia said.

While, in terms of per capita AUM Bengal ranked ninth with per capita AUM Rs 9260. The list topped by New Delhi.
Meanwhile, Kapadia said the industry will have to wait and watch the impact on the proposed regulation by SEBI on separating advisory from distribution of financial products.