Tata Mutual Fund expands presence in Gujarat with new branch in Surat

SURAT : Tata Mutual Fund has expanded its presence in Gujarat with the inauguration of its sixth branch in Surat on Monday.

As of May 2024, the industry Average Assets Under Management (AAUM) in Surat have reached about INR 1090.07 crore, showing a 42% growth over the last year. This includes investments in equities, debt, balanced funds, and ETFs (including cash). With the new Surat branch, Tata Mutual Fund now has 06 branches in Gujarat. Nationally, the company has a network of 100 branches across India.

The Surat branch has been inaugurated by Hemant Kumar. It is located at Tata Asset Management Pvt Ltd, ITC, Majura Gate, Surat,

The new Surat branch will be a centre for individuals, families, and businesses seeking expert advice on wealth management and investment planning. With a comprehensive range of mutual fund products and services, Tata Mutual Fund aims to empower investors to achieve their financial goals with confidence and clarity.

On the branch opening, Hemant Kumar, Chief Distribution & Digital Officer, Tata Asset Management, said, “We are excited to be in Surat, a city with great growth potential. This expansion supports our goal to make wealth creation accessible and to promote financial literacy in various communities.”

According to AMFI data, as of May 2024, the average AUM of investors from Gujarat stood at INR 404493.35 crore, with a growth rate of 50% over the past two years.