AMFI Celebrates Women’s Day: Showcasing Remarkable Rise in Women Participation in Mutual Funds
- With improving ease of access to information and technology, more women investors investing in mutual funds
- Share of Women in mutual funds AUM has shot up from 15.2% in 2017 to 20.9% in 2023
- Traditional bent in investment planning, with an eye on new-age instruments
National, 11th March, 2024: As the world celebrates the pivotal role of women, the Association of Mutual Funds in India (AMFI) proudly acknowledges the substantial advancements made by women in financial inclusion and empowerment. Backed by recent industry insights from AMFI data , curated by CRISIL, the report titled ‘Mutual Growth’ underscores the significant strides women have made in mutual funds participation.
Women’s empowerment in financial decision-making and their increasing momentum towards embracing capital market instruments is visible in the mutual fund industry. In line with the mutual fund industry’s exponential growth, crossing the Rs 50 lakh crore mark, women are also increasingly making their presence felt in the industry.
As per industry data, the share of women in industry assets has expanded from 15% in March 2017 to nearly 21% as of December 2023. What is more heartening is that this pace of growth is more prominent in the hinterland versus urban centres; the share of women folios and assets in B-30 cities has increased from 15% to 18% and from 17% to 28% during the period.
Some of the findings of the report include:
- Age analysis of women investors indicates almost 50% of women investors fall in the 25-44 years age group, versus around 45% for overall set of individual investors.
- Goa boasts the highest share of women in the mutual fund industry at 40%, followed by northeastern states with high 30s percentages. Chandigarh, Maharashtra, and New Delhi also have over 30% 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 when investing through a mutual fund distributor.
- The number of women mutual fund distributors has steadily increased, nearing the 42,000 registration mark as of December 2023, managing over ₹1 lakh crore in AUM.
The report was released at a special industry initiative for International Women’s Day where women fund managers, research analysts and dealers from the industry were felicitated by SEBI Chairperson, Smt. Madhabi Puri Buch and AMFI Board Members.
Speaking at the event, Smt. Buch commented, “Women can lead and champion the right investment causes by leveraging their perspectives, advocating for inclusive decision-making processes, and fostering environments where diverse voices are heard and valued. Together, 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.
Let us, as an industry, cultivate an environment that recognizes women’s role in investments domain.”
Mr. Navneet Munot, Chairman of AMFI, remarked, “The increasing participation of women in mutual funds is a testament to their growing economic empowerment. We are witnessing a positive trend towards greater financial literacy and inclusion among women, which is crucial for the overall development of our society. We, at AMFI as a part of our journey towards a Viksit Bharat want to take this to the next level by conducting more women focused investor awareness initiatives.”
Mr. Venkat Chalasani, Chief Executive of AMFI, added, “It is heartening to see women embracing new-age financial instruments, such as mutual funds, alongside traditional investment options. 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.”
In commemorating women’s contributions, AMFI reaffirms its dedication to promoting gender equality and financial empowerment. By leveraging the potential of women as investors and financial decision-makers, we can pave the way for a more equitable and prosperous future for all.
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