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Over 50% of the new MF investors are millennials. CAMS data which covers 69% of the MF assets shows that of the total 1.57 crore new investors who joined the MF industry between FY 2019 and FY 2023, close to 85 lakh were millennials.
The report further says that over 85% of the new millennial investors are from top 30 cities.
Further, 30% of the total millennials came during FY 2023 are women investors. “Progressive increase of women millennials is a great sign of financial independence and growing confidence of women to choose financial assets led wealth creation, thus narrowing the gender divide in the traditionally male dominated investment space,” said the report.
Here are other key traits of millennial investors:
- 90% of the assets of millennials are in equity funds
- Majority of investments are in multicap, flexi cap and small cap funds
- SIPs have been the preferred route for millennials to invest in mutual funds with 72% of the total millennials opting to start SIPs
- Overall, millennials have opened 1.54 crore SIPs
- 43% of them have invested across multiple fund houses
- 56 lakh millennials remain invested in mutual funds with AUM of Rs.96425 crore
Please note that the study comprises data from CAMS serviced funds houses which accounts for 70% of the total industry AUM. According to CAMS, millennials are the people born between 1981 and 1996.
