Tuesday, May 11, 2021
ADVT 
India

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

Darpan News Desk IANS, 21 Nov, 2019

    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

    Rajya Sabha Marshals' New Uniform Raises Hackles

    After the uniform of the Rajya Sabha staff was changed to military-style outfit, it led to an outrage among retired officers who sought an immediate action.

    Rajya Sabha Marshals' New Uniform Raises Hackles

    Chennai Man Killed In Paragliding Accident In Himachal

    A 27-year-old man from Chennai was killed in a paragliding accident in Himachal Pradesh’s Kullu district on Monday, the police said.

     

    Chennai Man Killed In Paragliding Accident In Himachal

    Sikhs Protest Against Arvind Kejriwal, Selection Board For ‘Inconvenience’

    Sikh activists on Monday protested outside the Delhi Subordinate Services Selection Board (DSSSB) office here against the DSSSB chairman and Delhi Chief Minister Arvind Kejriwal.

    Sikhs Protest Against Arvind Kejriwal, Selection Board For ‘Inconvenience’

    India Sent Over 2.02 Lakh Students To United States In 2018-19

    India Sent Over 2.02 Lakh Students To United States In 2018-19

    The number of Indians studying in the US increased by almost three per cent over the last year to 202,014, -- the sixth consecutive year marking such growth.

     

     

    India Sent Over 2.02 Lakh Students To United States In 2018-19

    Man Smuggled Gold Through Rectum, Arrested In Delhi Airport

    Man Smuggled Gold Through Rectum, Arrested In Delhi Airport

    On a personal search of the passenger, four pieces of gold were recovered -- two concealed in the pockets of his trouser and the rest in his rectum -- the statement issued by the customs department said.

     

    Man Smuggled Gold Through Rectum, Arrested In Delhi Airport

    Groom Rides Chopper To Marry In Style In Rajasthan

    To make the marriage memorable, a groom instead of riding a horse, as per the tradition, to the bride's place, hired a helicopter to reach the wedding venue in Gangapur city in Rajasthan.

    Groom Rides Chopper To Marry In Style In Rajasthan