What’s even more interesting is that 1.76 million of these new millennial investors, or 23%, have already fully redeemed their investments, according to the study. At the end of the five years, the new millennials investor base stands at 5.6 million with an AUM, or assets under management, of ₹96,425 crore.
The study covered CAMS-serviced MFs, which have a market of share of around 69% in the Indian MF industry. This includes 10 of the top 15 MFs in the country in terms of AUM.
Mint spoke to some millennials to understand what triggered them to redeem some of their investments, what they are hoping to achieve from their existing MF investments and what their preferred mode of investment is (see graphic). The CAMS report also highlighted some interesting trends, including millennials’ preference for systematic investment plans (SIPs).
What the numbers say
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