According to a report released by mutual fund transfer agency Computer Age Management Services (CAMS), 84.8 lakh new millennial investors entered the mutual fund industry in the last five financial years (FY19- FY23). The report said, “Despite market volatility and uncertainty in FY23, investor confidence in entering mutual funds remained strong and millennials continue to make mutual funds their investment of choice for wealth creation.” kept.”
The impressive growth in mutual fund investments during the last five years is one of the healthy developments taking place in the Indian capital market, said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services. “The fact that millennials are choosing the equity market route for wealth creation is commendable. More importantly, most millennials are opting for the SIP route for investment. This is reflected in the steady rise in monthly SIP inflows.” being and crossing. 14000 crores despite poor returns from the market during the last 18 months,” said Dr VK Vijayakumar.
female millennial investors
Female millennial investors account for up to 30 percent of new millennials investors in FY23,
Millennials are taking the SIP route to invest
Ahead, SIP (Systematic Investment Plan) in equity schemes. For two-thirds of the new Millennials, investing has been the preferred route to start their journey. Interestingly, a third of the new millennials are confident about making lump sum investments.
In addition to 51 lakh SIPs made as initial investment, Millennials have added 1.03 crore SIPs during the five years. These cumulative 1.54 crore SIPs are 29 per cent of the total 5.3 crore SIPs registered during FY19-FY23, the report said.
Dr. VK Vijayakumar suggested that SIP investors should continue with their investments irrespective of market fluctuations. History has proved that mutual fund investors will get good returns in the long run.
“As India develops into an $8 trillion economy by 2032, there will be unprecedented wealth creation through the stock market. SIP in mutual funds is the best way to participate in this upcoming wealth creation,” said Vijayakumar
As per the CAMS report, overall 1.57 crore new investors joined the industry between 2018-19 and 2022-23.
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