homemarket NewsSamvat 2078: Mutual fund industry needs to focus on investor education for millennials, says Navneet Munot
Samvat 2078: Mutual fund industry needs to focus on investor education for millennials, says Navneet Munot
The mutual fund industry today stands at nearly Rs 34 lakh crore with retail investors pumping in close to Rs 10,000 crore a month via SIPs. However there are only 2.5 crore unique investors, so the mutual fund industry has a long way to go, he said.
The recent months have been rewarding to most investors. The market has delivered 50 percent returns and most mutual funds have delivered in excess of that -- making up for the shortfall of the previous 5 years. The mutual fund industry today stands at nearly Rs 34 lakh crore with retail investors pumping in close to Rs 10,000 crore a month via SIPs.
In an interview to CNBC-TV18, Navneet Munot, MD & CEO of HDFC AMC said, “The mutual fund industry created a milestone of highest ever AUM of over Rs 36 lakh crore, we have got now more than 10 crore folios which is another big milestone, you have Rs 10,000 crore plus inflows in SIP every month, but all said and done we still have little over 2.5 crore unique investors. So the mutual fund industry has a long way to go.”
He said the mutual fund industry needs to focus on investor education which is critical to nudge millennials.
“Every generation has been smarter than the previous generation and same thing is about the millennials and the gen-z. They ask different questions and respond differently. So what the mutual fund industry needs to do is speak at their platform, at their medium and in their language. Fundamental tenets of investing would never change – it is always about sound investment + time + patience = wealth creation. So we have to reinforce focus on investor education for millennials.”
Watch video for more.
First Published: Nov 3, 2021 8:41 PM IST
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