First in Ladakh, this AMC opens office in Leh-Ladakh region for wider reach
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 ₹10,800 crore. Meanwhile, it is 24 percent higher than the corresponding data of June 2024 when it stood at ₹8,703 crore.
Other states which have even lower AAUM than J&K include Sikkim ( ₹2,400 crore), Arunachal ( ₹2,200 crore), Mizoram ( ₹1,400 crore), Manipur ( ₹1,600 crore), Nagaland ( ₹3,500 crore), Meghalaya ( ₹5,100 crore) and Tripura ( ₹3,100 crore).
In contrast, Bihar’s AAUM is ₹75,100 crore and Assam’s AAUM is ₹40,300 crore.
Kargil veteran
Nippon India’s CEO Sundeep Sikka attributed this feat to the efforts made by former Chief of Army Staff and Kargil veteran General VP Malik.
“Leh holds a unique place in India’s national consciousness—not just for its altitude and terrain, but for its strategic and cultural significance,” said General VP Malik (Retd), also an independent director at Nippon India MF.
“We continue to deepen our reach because we believe every Indian deserves to participate in the country’s growth story and journey towards financial inclusion. We’re proud to be the only asset management company in the mutual fund industry with a physical presence in Leh, reinforcing our commitment to empowering investors in every corner of the nation,” said Sundeep Sikka.
On the day of launch of its branch, Nippon AMC also conducted an Investor Awareness Program (IAP) for 300 Army personnel to promote financial literacy among the armed forces
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