Daily Stock Market Reports

22% women invest via mutual funds, followed by gold and stocks

Around 1 in 5 women started investing for the first time, amidst the pandemic, says 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 points to the instruments these new women investors fancy. According to the survey, mutual funds is the most preferred investment instrument and is the choice of 22% of women surveyed, followed by shares and gold. Around 34% of women prefer to put their money in a mix of traditional investment options like fixed deposits, recurring deposits, PPF and savings accounts. Around 30% of them rely on digital investment platforms for information on financial planning and investing, 20% depend on friends and family and 15% refer to articles on personal finance.

The survey also reveals hat 70% of women (60% in 2021) have said that they are either independently managing their own money (32%) or are actively involved in financial decision-making with their spouse (38%). Compared to last year’s survey, there is an 11% uptick in the number of women who are independently managing their expenses today.

Long term life goals continue to be a priority for the women 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 years wish to make more money as their next financial goal, women over 35 years have said that they would prefer to create an emergency fund.

“The survey highlights a progressive reduction in gender role gaps and an increased independence in women with wealth management. With an increase in awareness and interest in financial planning and wealth creation, we are witnessing a positive shift in investment preferences, goals, behaviours and mindsets. Women are motivated to save and invest and take control of their financial journey now more than ever. As a digital wealth manager, our aim is to help investors make these informed decisions that allow them to achieve their life goals,” said Atul Shinghal, Founder and CEO at Scripbox.

Read More: 22% women invest via mutual funds, followed by gold and stocks

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