New Delhi Poised to Become the First State with Per Capita Mutual Fund AUM of ₹3 Lakh

As of June 2025, New Delhi is on the brink of becoming the first Indian state with a per capita mutual fund AUM nearing ₹3,00,000. Alongside Goa and Maharashtra, it ranks among the top states showing strong investor engagement and mutual fund penetration.

New Delhi Poised to Cross ₹3,00,000 in Per Capita MF AUM

According to data from June 2025, New Delhi's per capita mutual fund assets under management (AUM) have reached ₹2,95,840. With consistent growth, the region is expected to become the first state in India to surpass the ₹3,00,000 mark. Goa follows with ₹2,56,170, and Maharashtra comes next at ₹2,44,110. These are currently the only 3 states to have crossed the ₹1,00,000 milestone.

States with Strong AUM but Less Penetration

Interestingly, Maharashtra leads with the highest mutual fund AUM to state GDP ratio at 98%, while New Delhi and Goa follow at 58% and 48% respectively. However, some states such as Sikkim, Andhra Pradesh and Odisha still have mutual fund AUM percentages in single digits when compared to their GDPs.

Regional Disparities in AMC Infrastructure

Besides AUM, infrastructure accessibility plays a key role. While Maharashtra has 260 AMC branches, states like Manipur and Mizoram lack any. Other regions such as Sikkim, Arunachal Pradesh and Nagaland have only 1 AMC branch each, limiting exposure and investment awareness.

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Performance of Other States in Per Capita MF AUM

States with per capita MF AUM above ₹50,000 include Haryana (₹85,010), Karnataka (₹76,960) and Gujarat (₹75,580). Conversely, Manipur, Bihar and Tripura have the lowest figures at ₹5,070, ₹6,100 and ₹7,550 respectively, reflecting stark contrasts in financial inclusion.

Conclusion

New Delhi’s anticipated leap over ₹3,00,000 per capita AUM stands as a strong indicator of robust mutual fund adoption. While top-tier states demonstrate growing investment culture, other regions still face infrastructure and awareness challenges, underscoring the need for pan-India inclusion and development in asset management services.

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