Rs 26-trillion mutual fund industry yet to penetrate most Indian states

Many have Mutual fund assets, which are less than 5% of economic output

The Rs 26-trillion mutual fund (MF) industry may take a while before it turns mainstream in many Indian states.

Many states have limited exposure to MF assets relative to their economic output, shows an analysis of the latest state-wise data from the Association of Mutual Funds in India (Amfi) and official statistics on state economies.

As a percentage of their economic output, assets under management are in single digits, the analysis reveals. This is far lower than the global average, where MF assets can account for over a third.

The analysis considered the latest Amfi state-wise asset data and gross