New Delhi, Aug. 4 -- Nippon India Mutual Fund announced the opening of its new branch in Leh, Ladakh in its apparent attempt to spread mutual fund penetration in the state of J&K. With this launch, Nippon claims to be the only mutual fund house with a physical presence in such a high-altitude region.

A company statement said that this is India's 167th branch of Nippon spreading across 266 pin codes. It is worth mentioning here that Jammu & Kashmir has very small concentration of mutual fund investment with average assets under management (AAU) of only Rs.10,800 crore. Meanwhile, it is 24 percent higher than the corresponding data of June 2024 when it stood at Rs.8,703 crore.

Other states which have even lower AAUM than J&K include Sikki...