Indore ahead of Surat in FDs, lags in mutual funds

INDORE: Indore is ahead of Surat when it comes to investment in fixed deposit. However, it lags far behind Surat in terms of investment in mutual funds. Reason being lack of awareness among investors about importance of investing money into mutual fund. It was disclosed by chief executive officer, Edelweiss Mutual Fund, Vikaas M Sachdeva, here on Wednesday, while announcing opening of first financial inclusion investor awareness hub by Edelweiss Asset Management, which is a dedicated asset management company to Edelweiss Mutual Fund.
Sachdeva said Surat's MF investment was more than 3-4 times that of Indore. Referring to a RBI data, he said as against MF investment in Surat to the tune of Rs 9,000 crore, it was merely at Rs 2,400 crore in Indore in September last year. It was despite the fact that Indore with a population of 32 lakh enjoyed cash volume at stock exchanges like BSE & NSE to the tune of Rs 12,000 crore, he said.
"We have adopted Indore district for creating awareness for investment in MF," said Seemant Shukla, head-sales & business development, Edelweiss MF.