Comments
The shares of assets owned by women investors in mutual funds has increased 21 per cent as of last December-end against 15 per cent in March, 2017.
Also read: New MF distributor portability norms to trigger competition, hit income
Interestingly, the share of MF assets owned by women from beyond top-30 cities increased to 28 per cent from 17 per cent and that of their folios was up to 18 per cent from 15 per cent during the same period, according to the Association of Mutual Funds in India data, curated by CRISIL.
The report ‘Mutual Growth’ has underscored the significant strides women have made in mutual funds participation.
Almost 50 per cent of women investors fall in the 25-44 years age group, versus around 45 per cent for overall set of individual investors.
Goa boasts of the highest share of women in the mutual fund industry at 40 per cent, followed by north-eastern States. Chandigarh, Maharashtra and New Delhi also have over 30 per cent share of women in the industry’s assets under management.
Most women continue to invest through the regular plan route in mutual funds and stay invested for longer periods.
The number of women mutual fund distributors has steadily increased, nearing the 42,000 registration mark and they manage assets worth over ₹1-lakh crore in AUM as of last December.
Financial empowerment
Madhabi Puri Buch, Chairman , SEBI said women can champion a paradigm shift where they are not confined by outdated stereotypes, but empowered to thrive authentically and unapologetically in every aspect of their lives, she said.
Navneet Munot, Chairman, AMFI, said, “The increasing participation of women in mutual funds is a testament to their growing economic empowerment.”
As a part of Viksit Bharat journey, he said the industry wants to take this to the next level by conducting more women-focused investor awareness initiatives, he added.
Also read: Why this multi-asset fund is good investment option at market highs
Venkat Chalasani, Chief Executive, AMFI. said the increase in women distributors, highlights their ability to make financial decisions for themselves and guide others reflecting a growing confidence and financial awareness among women.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.