Nippon India MF Eyes Expansion In Smaller Cities

Nippon India Mutual Fund (MF) is betting big on deeper retail penetration and expan-sion in smaller towns to double its investor base to 5 crore over the next 7-8 years, a top official said on Wednesday. The fund house is particularly bullish on eastern India, where growth con-tinues to outpace the national average, the official added. While the overall mutual fund industry in the region grew 20 per cent year-on-year, Nippon India clocked over 27 per cent growth, with Systematic Investment Plan (SIP) inflows rising 55 per cent in FY24 , significantly ahead of the industry's 38 per cent in the region and 34 per cent nationwide.

"Our strategy is clear, we want to go deeper into the retail market, especially in emerging and underpenetrated regions. That's where India's growth lies. Our current investor base is 2 crore out of 6 crore MF unique investors," said Sundeep Sikka, Executive Director and CEO, Nippon India Mutual Fund.