Maharashtra tops among states when it comes to mutual fund investments, accounting for 40.61 per cent of the average assets under management for June, a report said on Thursday.

New Delhi, Gujarat, Karnataka, and West Bengal each contributed less than 10 per cent to the domestic mutual fund industry's Average Assets Under Management (AAUM) in June, according to a report by Icra Analytics.

The top five states in the country contributed 67.65 per cent of the AAUM of the domestic MF industry in June, the report said.

From a growth perspective, Nagaland witnessed the fastest growth in AAUM at 62.47 per cent on-month, followed by Lakshadweep and Ladakh at 19.18 per cent and 18.17 per cent, respectively, the report said. On a yearly basis, Nagaland witnessed the maximum growth in AAUM at 100.57 per cent, followed by Dadra and Nagar Haveli, which grew at 56.52 per cent.

The report said the AAUM of the domestic mutual fund industry grew by 21.94 per cent on a yearly basis in June 2025, and was up 3.61 per cent on-month.

Contribution of growth-oriented equity-oriented schemes remained the maximum at 54.76 per cent,  followed by debt-oriented schemes and liquid schemes, which contributed at 14.88 per cent and 12.50 per cent, respectively.

The contribution of equity-oriented schemes was the highest in Ladakh at 90.85 per cent, followed by Lakshadweep, for which the contribution of equity-oriented schemes stood at 84.07 per cent, the report said.