Average AUM of MF industry in Assam is Rs 20,600 crore: Saurabh Jain, Union AMC


Saurabh Jain, Chief Marketing Officer (CMO) Union AMC, said that the average Assets under Management (AUM) of mutual fund industry in Assam is Rs 20,600 crores. This is 6% of the state’s Gross Domestic Product (AMFI data as of October 2022), he added.

Union AMC today announced the inauguration of its first branch in North East in Guwahati. Union AMC is co- sponsored by Union Bank of India and Dai-ichi Life Holdings Inc. of Japan.

Speaking on the occasion, G. Pradeepkumar, CEO, Union AMC said, “We believe that discipline is key to achieving more especially when it comes to investments and through Union Multicap Fund, our new fund offering, we aim to deliver capital appreciation over the long run. Empirical data shows that different market caps perform differently in different periods and it is not easy to gauge which segment will outperform and which will underperform. Union Multicap Fund, endeavors to enable investors to navigate across market caps and provide true diversification by following a disciplined investment approach which ensures that the fund is not over invested in any particular market capitalisation at any point in time”.

Saurabh Jain said, “We are very happy to open our new office in Guwahati along with the launch of our new scheme, Union Multicap Fund. The Indian Mutual Fund Industry has grown from 7.68 trillion as on October 31, 2012 to ?39.50 trillion as on October 31, 2022 more than 5-fold increase in a span of 10 years. The Average Assets under Management (AAUM) of Mutual Fund industry in Assam is ?20,600 crores & it is 6% of its Gross Domestic Product (AMFI data as of October 2022). We believe there is a huge opportunity for increasing mutual fund penetration in the North East and our branch opening in Guwahati is our first step in that direction.”

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