Nippon India Mutual Fund opens branch in Leh

Leh, Aug 2: In a significant milestone for the Indian mutual fund industry, Nippon Life India Asset Management Ltd (NAM India), manager of Nippon India Mutual Fund, has become the first asset management company to establish a branch in Leh, Ladakh.

The Leh branch is NAM India’s 167th in the country, expanding its reach to 266 pin codes nationwide. The move underscores the company’s efforts to bring financial services to remote and underserved regions, particularly in high-altitude areas.

Retired General Ved Prakash Malik, Independent Director at NAM India, said the initiative reflects confidence in the region’s potential and seeks to support the financial aspirations of its residents, including armed forces personnel and civilian communities.

Despite recent growth in tourism and economic activity, mutual fund penetration in the region remains low. As of June 2025, Jammu & Kashmir and Ladakh together account for just Rs 10,844 crore in average assets under management—less than 0.14% of India’s total Rs 74.80 lakh crore AAUM.