Mutual Fund: Nagpur overtook Chandigarh and Bhubaneswar in investment, made it to the top 12 cities of the country!

AUM Ranking India: Today, a change is being seen in the trend of saving and investing in Nagpur. Earlier, where bank FD and gold investment were considered the first choice, now SIP has become the choice of the people. Young investors are no longer investing the remaining money, rather they are withdrawing a fixed portion of their income for investment at the beginning of the month and meeting their expenses with the remaining money.

In the last 10-12 years, there has been a major change in the financial priorities of common people. Now people do not want to be limited to just keeping their money safe but are insisting on increasing it. This is not just an investment trend but an important change in people’s behaviour. Due to this change, today Nagpur has achieved 12th position in the country in terms of mutual fund investment, where the total investment has reached approximately Rs 42,000 crore.

The AUM in the year 2012 was around Rs 2,525 crore. There has been an increase of 17 times. Due to this, Nagpur has overtaken 5 cities including Bhubaneswar, Chandigarh. Along with Nagpur, Akola, Amravati, Chandrapur, Bhandara and Gadchiroli are also growing.

SIP became the biggest tool

According to securities market experts, in today’s financial market, there are diverse products available for investors which include mutual funds, equity, ETF, SIP etc., due to which investors in Nagpur are also moving away from traditional investments and choosing modern, long-term profitable options. Investors are increasing rapidly in which SIP has emerged as the biggest tool.

Nagpur, being the center of the country, has become an important financial and business centre. Strategic location, better roads and infrastructure and increasing connectivity have given it immense importance in the country today. Nagpur’s growth in the last 10 years has been higher than the country’s average and the city has become one of the fastest growing cities between the financial years 2021 to 2026.

Akola’s mutual fund AUM rises to nearly Rs 7,000 crore; Amravati 5,200; Chandrapur 900 crores; Bhandara 500 crores; Gadchiroli has reached Rs 400 crore and that of Yavatmal and Washim has reached Rs 1,000 crore.

• Mutual fund investment is growing rapidly
• Investment reached Rs 42,000 crore
• 2,525 crores in the year 2012
• 17 times increase
• Achieved 12th position in the country
• Akola, Amravati, Chandrapur are also moving ahead

Inflation changed the thinking of savings, young investors increased

Earlier, people used to consider it sufficient to keep their money safe in bank FD or post office schemes, but with time, inflation has increased. The price of goods and services has become much higher than before. In inflation conditions of 5-6% or more, such returns do not provide real growth.

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This realization turned people towards options like equity and now they have started believing that not only saving but also proper investment is important. Now investment has become possible even with an amount of Rs 100. At the same time, due to I-Tech companies in Nagpur Mihan, investment in mutual funds is increasing rapidly. Along with this, financial awareness and understanding of investment has also increased among the people.

AUM ranking

• Rajendra Mankar’s report from Nagpur on Obnews Live