Hinterlands in the lead: Little places, big paces in mutual fund growth

Small towns, big moves: B30 assets jump 23%, leaving T30 growth of 14% in the rearview

The growth of mutual fund (MF) holdings among individual investors in semi-urban and rural areas is expected to outstrip that in the top 30 (T30) cities for the third straight year in 2025. As of October, individual MF assets from beyond top 30 (B30) cities had risen 23 per cent, compared with a 14 per cent increase in T30 assets. 

This faster growth has narrowed the gap between B30 and T30 assets. The B30 share of individual assets under management (AUM), which stood at 25 per cent in 2022, has climbed to 28 per cent, according to industry data accessed