By Samachar Vishesh News
Chandigarh 20th November:- Karvy Private Wealth, the wealth management
arm of the leading financial-services conglomerate, Karvy Group, has revealed some
interesting insights on the investment habits of individual investors in Punjab
in the India Wealth Report 2019. As per the report, which tracks down every
rupee invested in every asset class, by every individual in India, individual
investors in Punjab have placed their trust in equity the most.
Individual
investors in Punjab have opted for a higher allocation to equity products in
their mutual fund portfolio at 68.11%, as compared to the national average of 64%.Chandigarh,
Ludhiana, Amritsar & Jalandhar have all recorded a higher equity share in
total AUM than the national average. Overall, mutual funds grew by a healthy 9.99%
YoY in Chandigarh.This is in line with what was highlighted in the report; that
tier-2 and tier-3 cities will be significant contributors to mutual fund AUM
growth in the years ahead.
While equity
seems to be the favorite asset class, keeping in mind the volatility in the
markets, term deposits continue to remain a safe bet for investors. Overall
growth rate in deposits is close to the national growth rate. Amongst the
cities in Punjab, Chandigarh recorded the highest YoY growth at 12.12%, followed
byAmritsar at 11.39%.
Commenting on the
occasion, Abhijit Bhave, CEO, Karvy Private Wealth, said that Direct Equity
continues to hold the fort in terms of investment preference in India. This
shows the belief of investors in the Indian equity markets notwithstanding the
volatility it has been through. We believe that India’s drive towards a USD 5tn
economy will have a cascading positive effect on the individual wealth by 2024.
We expect the HNI population to touch 1 million over the next five year.
The report
further stated that there would be a continued shift towards financial assets
in India in the near future as well.Massive
investment in Infrastructure and Green Energy, backed with a regulatory boost
with tax reforms, aided by a huge young workforce, will accelerate the Indian
economy towards the $5 trillion target once there is a pickup in consumption.
Urban India will go hand in hand with the semi-urban and rural Bharat to
achieve this feat.
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