Mutual Fund: People’s interest in investing in mutual funds is increasing rapidly. The only reason for this is to get the highest returns. People get more returns by investing in mutual funds than in bank and post office savings schemes and fixed deposits. The result of this is that the people of Jharkhand have deposited a huge amount of money in mutual funds. In the matter of mutual funds, Jharkhand has left behind its neighbors Bihar, Odisha and Chhattisgarh. On the insistence of investors, a mutual fund market worth about Rs 74,600 crore has been created in Jharkhand. The interesting thing is that in just four months, the mutual fund market of Jharkhand has increased by about Rs 12,300 crore.
Mutual fund market worth Rs 74,600 crore in Jharkhand
According to the data of September 2024, the mutual fund market in Jharkhand has reached Rs 74,600 crore. Earlier in May 2024 it was Rs 62,300 crore. During these four months, there has been an increase of about Rs 12,300 crore in the mutual fund market of Jharkhand. At the same time, the mutual fund market in Bihar is worth Rs 69,000 crore, in Odisha it is Rs 66,100 crore and in Chhattisgarh it is worth Rs 42,900 crore.
88% equity investment in Jharkhand
What is also surprising is that people of Jharkhand are investing more in equity funds through mutual funds. During the last four months, about 88% investment has been made in equity and 12% non-equity. At the same time, 89% equity investment and 11% non-equity investment has been done in Bihar. Whereas in Odisha it is 78% and 22% and in Chhattisgarh it is 88% and 12%. Apart from this, in Jharkhand a total of 19% of GDP is being invested in mutual funds, while in Bihar, Odisha and Chhattisgarh, 9-9% of GDP is being invested in mutual funds.
Bumper returns up to 56% in mutual funds in 1 year
Another surprising aspect is that during the last financial year 2023-24, mutual funds have given bumper returns of 32% to 56% to their investors. During this period, investors from the schemes of HSBC, Mahindra Manulife and Quant have received returns of more than 50%. The data states that these top three funds have performed much better than the Nifty 500 TRI index, which has given 35.11% returns in the same period.
Disclaimer: Times of Bihar does not give any advice for any buying or selling related to the stock market. We publish market related analyzes quoting market experts and broking companies. But take market related decisions only after consulting certified experts.
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