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The mutual fund industry has seen its assets under management (AUM) ballooning from Rs.12.1 lakh crore in March 2015 to Rs. 27.5 lakh crore in August 2020. However, the penetration of mutual funds in India is lower than many other countries. Just 5 States as well as top 30 cities contribute to bulk of the AUMs. AMCs too don't have a big presence in the cities beyond the top 30
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