{"id":68063,"date":"2023-05-04T20:40:35","date_gmt":"2023-05-04T15:40:35","guid":{"rendered":"https:\/\/www.moneycontrol.com\/news\/mutual-funds\/mutual-funds-see-85-lakh-new-millennial-investorsfy19-fy23awareness-campaign-digital-access_16987011.html"},"modified":"2023-05-04T20:40:35","modified_gmt":"2023-05-04T15:40:35","slug":"mutual-funds-see-85-lakh-new-millennial-investors-in-fy19-fy23-on-awareness-campaign-digital-access","status":"publish","type":"post","link":"https:\/\/cgdailytime.com\/?p=68063","title":{"rendered":"Mutual funds see 85 lakh new millennial investors in FY19-FY23 on awareness campaign, digital access"},"content":{"rendered":"<div class=\"article_image_wrapper article_image_main_wrapper\">\n<div class=\"article_image\"> <img loading=\"lazy\" decoding=\"async\" class=\"MC_img\" src=\"https:\/\/images.moneycontrol.com\/static-mcnews\/2022\/03\/mutualfunds2-770x433.png?impolicy=website&amp;width=770&amp;height=431\" alt=\"1.57 crore new investors joined the industry between 2018-19 and 2022-23, as per the report released by mutual fund transfer agency\" title=\"1.57 crore new investors joined the industry between 2018-19 and 2022-23, as per the report released by mutual fund transfer agency\" width=\"770\" height=\"431\"> <\/div>\n<h2 class=\"article_text\">1.57 crore new investors joined the industry between 2018-19 and 2022-23, as per the report released by mutual fund transfer agency<\/h2>\n<\/p><\/div>\n<p><!-- stock widget --><!-- stock widget --> <\/p>\n<p>Mutual fund industry witnessed an influx of 84.8 lakh new millennial investors in the last five financial years (FY19- FY23), cornering 54 per cent share of the new investor base, on the back of massive awareness campaigns, conducive market conditions and digital access, according to a report by CAMS.<\/p>\n<p>Apart from these factors, simplified KYC and concerted intermediation and advisory too encouraged new millennials to invest in mutual funds.<\/p>\n<p>Overall, 1.57 crore new investors joined the industry between 2018-19 and 2022-23, as per the report released by mutual fund transfer agency Computer Age Management Services (CAMS) on Thursday pointed out.<\/p>\n<p class=\"lastPara\">According to the report, millennials have been the dominant segment among the new investors who entered mutual funds in the last five years with their share percentage peaking to 57 per cent in FY20.<\/p>\n<p>&#8220;Despite the market volatility and uncertainty through FY23, investors&#8217; confidence to enter mutual funds remained sound and millennials continued to make mutual funds their choice of investment for wealth creation,&#8221; the report noted.<\/p>\n<p>Noting the high influx of millennials towards investing through professional fund managers, the report suggested that product design, communication, marketing, and digital teams need to align their strategy to this high potential, rapidly growing segment.<\/p>\n<p>In terms of gender, the report has noted a progressive increase of women millennials, who are taking the mutual fund route for investments in FY23.<\/p>\n<p>Women millennial investors accounted for up to 30 per cent of new millennial investors in FY23 is a sign of financial independence and the growing confidence of women to choose financial assets led to wealth-creation, thus narrowing the gender divide in the traditionally male-dominated investment space.<\/p>\n<p>Moreover, the choice of making the first investment in equity funds has heightened in FY22 and FY23 although the market rally peaked in FY21.<\/p>\n<p>Further, SIP (Systematic Investment Plan) in equity schemes has been the preferred route to begin the investing journey for two-thirds of the new millennials. Interestingly, a third of new millennials have been convinced about making a lump-sum investment.<\/p>\n<p>Millennials have added 1.03 crore SIPs during the five years in addition to the 51 lakh SIPs made as initial investments. These cumulative 1.54 crore SIPs are 29 per cent of the total 5.3 crore SIPs registered across segments during FY19-FY23, the report noted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Awareness campaigns, conducive market conditions, digital access, simplified KYC and concerted intermediation and advisory too encouraged new millennials to invest in mutual funds&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":68064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[147],"class_list":["post-68063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1","tag-business-schools"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mutual funds see 85 lakh new millennial investors in FY19-FY23 on 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