Nagpur Emerges as Key Mutual Fund Hub with Rs35,546 Crore in Investments
Nagpur has secured the 12th position nationwide in terms of funds collected through mutual fund investments, with a substantial figure of Rs35,546 crore, according to an official from Franklin Templeton, a prominent asset management company (AMC). This data, compiled by the Association of Mutual Funds in India (AMFI), highlights Nagpur's growing significance in India's financial landscape.
Maharashtra's Impressive 20% Growth in Mutual Fund Investments
The state of Maharashtra has demonstrated remarkable growth in mutual fund participation, with total investments exceeding Rs33,76,005 crore. This represents a year-on-year increase of 20%, showcasing robust financial activity across the region. Cities such as Mumbai, Pune, Nagpur, and Nanded have contributed significantly to this encouraging growth trajectory, reflecting broader economic trends.
Franklin Templeton's Strategic Initiatives in Nagpur and Beyond
Franklin Templeton, which manages an average assets under management (AUM) of Rs1,217 crore from Nagpur alone, is actively expanding its outreach. The company has launched a nationwide campaign named 'Change the Soch', specifically targeting women in smaller centers to raise awareness about mutual funds. Avinash Satwalekar, President of Franklin Templeton India, announced on Wednesday that this initiative will cover 4,000 kilometers across the country, aiming to empower women as investors.
Satwalekar emphasized that the campaign seeks to increase overall mutual fund participation in India, which currently stands at a modest 5%. He stated, "The idea is to break the notion that mutual funds are only for the moneyed class." The 'Change the Soch' campaign targets diverse individuals, including:
- Fisherwomen
- Farmers
- Teachers
- Other residents in towns with limited exposure to mutual funds
Satwalekar clarified that mutual funds are accessible to all, regardless of income level. He explained, "Amounts as low as Rs100 can be invested once a scheme is initiated with a comparatively higher amount, allowing even daily wagers to participate."
Expanding Reach Across Maharashtra and India
Nagpur marks the 11th city in Maharashtra visited by Franklin Templeton, following Nanded. The company's outreach efforts have also extended to other regions, covering cities such as:
- Kanyakumari
- Trichy
- Bellary
- Salem
Future Plans: Specialised Investment Fund (SIF)
Looking ahead, Satwalekar revealed that Franklin Templeton is planning to introduce a Specialised Investment Fund (SIF). This newly-approved mutual fund category is designed primarily for high-value investments, with a minimum threshold of Rs10 lakh. AMCs will employ a mix of advanced investment strategies within the SIF framework, catering to sophisticated investors seeking tailored financial solutions.
The combination of Nagpur's strong performance in mutual fund collections and Franklin Templeton's innovative campaigns underscores the dynamic evolution of India's investment landscape, making financial tools more inclusive and widespread.
