More women investing in mutual funds — holding up to 21% in Dec 2023 from 15% in March 2017: AMFI

As the world celebrated Women’s Day, the Association of Mutual Funds in India (AMFI) highlighted on Monday, March 11, the rise in women’s participation in industry assets to 21% in December 2023 from 15% in March 2017, according to its report.

AMFI, in its report titled Mutual Growth, found that the pace of growth of women in industry assets is higher in the hinterland in comparison to urban centres. The share of women holding folios and assets in B-30 cities the cities beyond the top 30 Indian cities — has increased from 15% to 18% and from 17% to 28% during the period.

The report revealed that about 50% of women investors fall in the 25-44 years age group in comparison to around 45% for the overall set of individual investors. The number of women mutual fund distributors has gradually increased, with nearly 42,000 registrations as of December 2023, managing over ₹1 lakh crore in assets under management (AUM).

Among the states, Goa has the highest share of women in the mutual fund industry at 40%, which is ahead of Northeastern states with high 30s percentages. Chandigarh, Maharashtra, and New Delhi also have over 30% share of women in the industry’s AUM.

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, according to the release by AMFI.

Buch said, “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“Together, women can champion a paradigm shift where they are not confined by outdated stereotypes, but empowered to thrive authentically and unapologetically in every aspect of their lives.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 recognises women’s role in investments domain,” the SEBI chairperson added.

Navneet Munot, Chairman, AMFI commented, “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.”

AMFI, as a part of its journey towards ‘Viksit Bharat,’ wants to to take women participation in mutual funds to the next level by conducting more women focused investor awareness initiatives, Munot added.

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