Mutual Fund Investment: In today’s time, Mutual Fund has become a very popular way of investment. The interest of the youth in this is also increasing very fast. Computer Age Management Services ie CAMS has claimed in its report that the number of youth investing in Mutual Fund Investment has increased in the last five years. Even in the time of uncertainty in the market, in the financial year 2023, many youths have considered investing in mutual funds as the best way. Between the financial year 2019 to 2023, about 84.8 lakh youth i.e. Millennials have invested in Mutual Fund.
Increased Participation of Female Millennials
The CAMS report also revealed that not only men, a large number of women millennials are also among those investing in mutual funds. In the financial year 2023, the share of women in total mutual fund investors has been around 30 percent. Significantly, people in the age group of 27 to 42 years come under the category of Millennials.
Millennials trusting SIP
Youngsters are using Systematic Investment Plan i.e. SIP the most to invest in mutual funds. Two out of every three millennials use SIP the most to invest in mutual funds. Wherein 1 Millennial prefers to invest lump sum amount. According to the CAMS report, 1.54 crore millennials have started SIP in the last 5 years. At the same time, between the financial year 2019 and 2023, the total number of people doing SIP has been Rs 5.3 crore.
On this matter, Investment Strategist of CAMS VK Vijay Kumar said that huge investment in mutual funds is being done through youth for wealth creation. It is a good thing that youth are trusting SIP and the total investment amount has crossed Rs 14,000 crore in March.
Stock market will make a big contribution to the Indian economy
Many experts believe that the Indian economy will become an 8 trillion dollar economy by 2023. In such a situation, the stock market will have a huge contribution in wealth creation. According to VK Vijay Kumar, if a person wants to earn money by investing in the growing economy of India, then SIP is a very good way of investing.