In a historic move aimed at increasing financial inclusion in one of India's most remote regions, Nippon India Mutual Fund has opened the country's first asset management company (AMC) branch in Leh, Ladakh, which is located 11,500 feet above sea level.
The initiative is expected to provide local citizens and defense personnel stationed in the region with a safe and formal alternative to unregulated investment schemes, as well as raise awareness about financial products. The mutual fund industry took 61 years to physically enter Ladakh after UTI launched its first scheme in 1964.
Key Highlights
- Nippon India opens India’s first mutual fund branch in Leh, enhancing financial inclusion in remote Ladakh.
- At 11,500 feet, Nippon India sets up the country’s highest asset management branch in Leh.
As of June 2025, the average assets under management (AUM) in Jammu and Kashmir and Ladakh is Rs 10,844 crore, accounting for less than 0.14% of India's total mutual fund assets. In contrast, India's total mutual fund AAUM stood at an impressive Rs 74.80 lakh crore as of June 2025. With a presence in Leh, the asset manager hopes to close the financial literacy gap, build a strong mutual fund ecosystem, and provide local residents with access to Indian capital markets.
At the event in Leh, Venkat Nageswar Chalasani, Chief Executive of AMFI, stated that everyone believes in India's growth story and that the fruits of investment must be distributed to every city in the country.
Sundeep Sikka, Executive Director and CEO of Nippon Life India Asset Management, stated, "Today, Nippon India Mutual Fund is present in 100% of districts and 97% of pin codes across India. We continue to expand our reach because we believe that every Indian deserves to be a part of the country's growth story and journey to financial inclusion."
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There are encouraging indications of financial inclusion in Jammu & Kashmir due to improved access and growing investor awareness. The average assets under management (AAUM) for the region increased by a healthy 24% year over year, from Rs 8,703 crore in June 2024 to Rs 10,825 crore in June 2025. "The presence of NIMF in Leh will contribute to raising financial awareness and literacy among prospective investors in the future. Over the next five years, more fund houses might enter the market," Sikka said.
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