There is a belief among many that women are often smarter with money matters than men. Axis Mutual Fund, one of the major asset management companies that has an AUM of Rs 2.64 lakh crore, has done a survey that has concluded that women are actually more adept at handling market volatility than men.
Women comfortable in bearish conditions
The survey found that in a bearish market, 40.3% of women retain their investments, while the share of men who stay put is 31%. In a bullish market, the share in both genders of those who retain investments is 71%.
Women building long-term wealth
In the top 30 cities of India, women building long-term wealth is on top of the agenda for women investors – as much as 63.9% invest with the objective of creating wealth, while 51.9% focus on retirement planning.
The education of children is the goal for 20.9% of women, while 15.8% focus on buying a flat/house and/or repaying home loans. A fair share of women investors – 17.7% — also invest to create an emergency fund, the smallest basket of 13.3% have said that they want to enjoy a vacation with the fruits of their investments.
On average 22 lakh women investors of Axis MF made a gain of Rs 80,000. It also said that women display higher persistency to stay invested for 5 years in their firm. It is 22% higher than men.
Women have higher average AUM
Axis also revealed that women account for 35% of the AUM of Axis. While the average AUM of a female investor was Rs 215,774, it was only Rs 181,107 for men. Therefore, the average AUM for women was 19.14% higher than that held by male investors.
While 65.3% of the women investors prefer to invest lumpsums, 59.5% of men do so. The picture slightly changes in the case of Systematic Investment Plans or SIPs. A smaller share of women (60%) go for SIPs compared to men (71.2%).
Decision on their own
Women investors act substantially independently while making investment decisions. As much as 71.9% of the women said that they make the decisions themselves, while 19.7% consult their spouse and 8.4% take the advice of other members of the family.
The factors guiding investment decisions were thus ranked – returns or past performance 65%, the risk profile of the investor 38.8%, brand of fund 37.7%, investment goals 36.6%. As much as 21.6% also consider the fund’s risk-o-meter.
The Axis Mutual Fund survey reveals a lot of financial behaviour among women. It also reveals that long-term wealth-building is one of the primary objectives of a vast majority of women investors. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
