Top 3 States with Highest Mutual Fund Assets: Maharashtra, New Delhi and Gujarat

This article explores the top 3 states with the highest mutual fund assets according to AMFI data for March 2025. Maharashtra, New Delhi and Gujarat stand out as the leaders in asset management, reflecting strong investor participation in these regions. Keywords include Maharashtra, New Delhi, Gujarat, mutual fund assets, AMFI, and AUM.

Top 3 States by Mutual Fund Assets: Maharashtra, New Delhi and Gujarat 

According to data from the Association of Mutual Funds in India (AMFI), Maharashtra continues to lead with a commanding asset under management figure of ₹27 lakh crore. Following Maharashtra, New Delhi holds the second position with ₹5.60 lakh crore in mutual fund assets. Gujarat ranks third, managing assets worth ₹4.64 lakh crore. These three states form the pinnacle of mutual fund investment across the country.

Read More: Half of India’s Mutual Fund Investments Come From 5 Cities: Report. 

Karnataka and West Bengal Complete the Top 5

Karnataka and West Bengal follow Gujarat to complete the top 5 states by mutual fund assets. Their rising asset figures demonstrate expanding mutual fund adoption in these regions.

States with Assets Above ₹3 Lakh Crore

Only 7 states have assets under management exceeding ₹3 lakh crore. Along with Maharashtra, New Delhi, Gujarat, Karnataka and West Bengal, Uttar Pradesh and Tamil Nadu are part of this group.

Top 10 States Crossing ₹1 Lakh Crore Mark

Rajasthan, Telangana and Madhya Pradesh round out the top ten states with mutual fund assets above ₹1 lakh crore, showing increasing interest in mutual funds beyond major financial centres.

Equity and Non-Equity Assets Under Management

Maharashtra, Gujarat, Karnataka, New Delhi and West Bengal lead in equity assets under management, with combined equity AUM of over ₹23 lakh crore. In the non-equity segment, Maharashtra remains on top, followed by New Delhi, Karnataka, Gujarat and Tamil Nadu.

Conclusion 

The AMFI data reflects a clear concentration of mutual fund assets in a few states, with Maharashtra holding a dominant share. The leadership of New Delhi and Gujarat highlights growing mutual fund markets in these regions as of March 2025.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

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