KOCHI: Kerala contributes just 1 per cent to the total investment flowing into mutual funds in India. “Bucking the national trend after demonetisation, Kerala has only seen 1x growth with its investments in the portfolio just reaching Rs 24,0000 crore from Rs 11,000 crore in the last three years.

Meanwhile, the national share witnessed a 3x growth to reach Rs 24 lakh crores from Rs 8 lakh crores in the same period,” said Prakash Bulusu, senior managing partner, ASK Wealth Advisors. He was speaking after Hedge Equities entered into a partnership with the Mumbai-based firm, for selling the latter’s investment products in Kerala. 

Hedge Equities CMD Alex K Babu says, “The Kerala demographics with its strong investment base of more than Rs 6 lakh crores, with bank deposits consisting the lion’s share at Rs 4.5 lakh crores, chits funds holding Rs 1 lakh and about Rs 50,000-60,000 crores in the cooperative banking system, are still reluctant to make the move from the traditional asset classes to equity and mutual fund investments”