‘Bengal showing significant growth in mutual fund investments’

Kolkata: Bengal is showing a significant growth in the mutual fund (MF) investments, said RK Jha, MD & CEO, LIC Mutual Fund Asset Management (LICMF).

A statement shared read that as per the Association of Mutual Funds in India (AMFI), Bengal has a significant share in industry assets under management and features fifth in terms of the assets under management (AuM) composition, contributing 5.1 per cent to the total industry AuM. Further, Bengal ranks ninth in terms of AuM per capita of Rs 32,041.

With growth of industries in Bengal, these numbers may further go up. In times to come, we expect the mutual fund industry to have a significant participation in terms of AUM from West Bengal, it read.

“The investment climate in Bengal has been showing notable progress, contributing to positive trends in job growth. The state has been attracting substantial investments across various sectors, including IT, healthcare, textiles, agriculture and chemicals. Recent business summits have highlighted significant investment proposals, reflecting growing interest and potential in the region,” the statement claimed.

The state has also demonstrated improvements in areas such as ease of doing business, skill development and support for micro, small, and medium enterprises (MSMEs).

This positive shift is expected to encourage more individuals to explore investment opportunities, potentially increasing the number of new mutual fund investors in the near future, it read. Jha highlighted that mutual funds offer schemes in various categories depending upon the investor risk profile and investment horizon, this allows an investor to assess their financial goals and accordingly make investment decisions.