Close X
Tuesday, September 24, 2024
ADVT 
India

India Wealth Report 2019: Punjab's Trust In Equity Highest In India

Darpan News Desk IANS, 20 Nov, 2019 07:39 PM

    Individual investors in Punjab have opted for a higher allocation to equity products in their mutual fund portfolio at 68.11 per cent compared to the national average of 64 per cent, Karvy Private Wealth said on Wednesday.


    Chandigarh, Ludhiana, Amritsar and Jalandhar have all recorded a higher equity share in total assets under management than the national average.


    Overall, mutual funds grew by a healthy 9.99 per cent year over year in Chandigarh, Karvy Private Wealth CEO Abhijit Bhave told media here.


    Quoting 'India Wealth Report 2019', he said investors in Punjab have placed their trust in equity the most.


    According to him, tier-2 and tier-3 cities will be significant contributors to mutual fund assets under management growth in the years ahead.


    While equity seems to be the favourite asset class, keeping in mind the volatility in the markets, term deposits continue to remain a safe bet for investors, he said.


    Overall growth rate in deposits is close to the national growth rate.


    Among the cities in Punjab, Chandigarh recorded the highest year over year growth at 12.12 per cent, followed by Amritsar at 11.39 per cent.


    "Direct equity continues to hold the fort in terms of investment preference in India. This shows the belief of investors in the Indian equity markets notwithstanding the volatility it has been through. We believe that India's drive towards a $5 trillion economy will have a cascading positive effect on the individual wealth by 2024," Bhave told IANS.


    The report said there would be a continued shift towards financial assets in India in the near future as well.


    Massive investment in infrastructure and green energy, backed with a regulatory boost with tax reforms, aided by a huge young workforce, will accelerate the Indian economy towards the $5 trillion target once there is a pickup in consumption.

    MORE India ARTICLES

    Maharashtra ATS Foils the Plan of IS Inspired Terror Group To Poison ‘Mahaprasad’ At 400-year-old Mumbreshwar Temple

    According to the charge sheet, the terror group was inspired by the Islamic State and was an avid follower controversial Islamic preacher Zakir Naik.

    Maharashtra ATS Foils the Plan of IS Inspired Terror Group To Poison ‘Mahaprasad’ At 400-year-old Mumbreshwar Temple

    US Man Arrested For Entering Delhi Airport Allegedly With Fake Ticket

    US Man Arrested For Entering Delhi Airport Allegedly With Fake Ticket
    The passenger told the CISF personnel that he used a "cancelled" air ticket of Mumbai to enter the terminal area to see off his friend who was travelling to Shanghai in China.  

    US Man Arrested For Entering Delhi Airport Allegedly With Fake Ticket

    20 Years After Kargil War: How An Indian Army Officer Helped An Enemy Captain Win Pakistan’s Highest Gallantry Award Nishan-e-Haider

    Pakistan Army Captain Karnal Sher Khan was killed in action during the Kargil conflict, but the Indian officer’s citation got him the Nishan-e-Haider.  

    20 Years After Kargil War: How An Indian Army Officer Helped An Enemy Captain Win Pakistan’s Highest Gallantry Award Nishan-e-Haider

    Meet Shaheen Parvez, A Muslim Woman Who Recites The Hanuman Chalisa Every Day

    Shaheen says, "I am not scared of anyone. I will not let someone who claims to be a custodian of religion dictate my choices. My choices are mine alone."

    Meet Shaheen Parvez, A Muslim Woman Who Recites The Hanuman Chalisa Every Day

    Cop Suspended After Video Of Her Dancing In Police Station Goes Viral

    In the short video clip, Arpita Chaudhary, a Lok Rakshak Dal (LRD) recruit, was seen dancing in front of a lock-up inside the Langhnaj police station in Mehsana district.  

    Cop Suspended After Video Of Her Dancing In Police Station Goes Viral

    I Was Sexually Abused As A 13-Year-Old: Derek O'Brien Shares Sex Abuse Story In Parliament, Smriti Irani Praises His Courage

    Sharing his harrowing experience of sexual molestation as a 13-year-old boy, TMC member of Parliament Derek O'brien urged celebrities, cricketers and people in public life to speak up about such traumatic incidents.

    I Was Sexually Abused As A 13-Year-Old: Derek O'Brien Shares Sex Abuse Story In Parliament, Smriti Irani Praises His Courage