mutual fund news: 22% of women invest through mutual funds, followed by gold and stocks

About 1 in 5 women started investing for the first time, amid the pandemic, according to a survey conducted by Scripbox, a digital wealth management company. The survey highlights a growing trend of women taking greater control of their money, accelerated by the economic impact of the pandemic.

The survey also sheds light on the instruments that these new investors love. According to the survey, mutual funds are the most preferred investment vehicle and are the choice of 22% of women surveyed, followed by stocks and gold. About 34% of women prefer to put their money in a combination of traditional investment options like fixed deposits, recurring deposits, PPFs and savings accounts. Around 30% of them rely on digital investment platforms for financial planning and investing information, 20% rely on friends and family, and 15% refer to articles on personal finances.

The survey also reveals that 70% of women (60% in 2021) said they manage their own money independently (32%) or actively participate in financial decision-making with their spouse (38%). Compared to last year’s survey, there is now an 11% increase in the number of women managing their expenses independently.

Long-term life goals continue to be a priority for female investors. Saving for retirement (20%) and for children’s education (20%) emerged as the most important financial goals for women across India. While women under 35 want to make more money as their next financial goal, women over 35 said they would rather start an emergency fund.

“The survey highlights a gradual reduction in gender role gaps and increased independence for women in wealth management. With increased awareness and interest in financial planning and wealth building, we are seeing a positive shift in investment preferences, goals, behaviors and mindsets. Women are more motivated than ever to save, invest and take control of their financial journey. As a digital wealth manager, our goal is to help investors make those informed decisions that enable them to achieve their life goals,” said Atul Shinghal, Founder and CEO of Scripbox.

Dolores W. Simon