DelhiDesk According to a report by Computer Age Management Services (CAMS), 84.8 lakh new millennial investors entered the mutual fund industry in the past five financial years, from FY19 to FY23. The report notes that despite market volatility and uncertainty, millennials continued to make mutual funds their choice of investment for wealth creation. Women millennial investors accounted for up to 30% of new investors in FY23, and SIP (Systematic Investment Plan) in equity schemes has been the preferred route for two-thirds of the new millennials. Dr. VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services, suggested that SIP investors continue their investment ignoring market volatility. Overall, 1.57 crore new investors joined the industry between 2018-19 and 2022-23, according to the CAMS report.
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👉 84.8 lakh new millennial investors entered the Mutual Fund industry in the last five financial years (FY19- FY23).
👉 Women millennial investors accounted for up to 30 percent of new millennials investors in FY23.
👉 SIP (Systematic Investment Plan) in equity schemes has been the preferred route to begin the investing journey for two-thirds of the new millennials.
👉 Millennials have added 1.03 crore SIPs during the five years in addition to the 51 lakh SIPs made as initial investments.
👉 Overall, 1.57 crore new investors joined the industry between 2018-19 and 2022-23.
👉 Dr. VK Vijaykumar suggested SIP investors to continue their investment ignoring the volatility in the market.
👉 Most millennials are opting for the SIP route for investment.
👉 Phenomenal wealth will be created through the stock market as India grows to an $8 trillion economy by 2032.
👉 Mutual funds is the best way to participate in this coming wealth creation.
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