Skip to main content

Equity investments grow at 6.39% in FY19 despite volatile markets: Karvy report

https://www.businesstoday.in/markets/stocks/karvy-india-wealth-report-2019-equity-investments-grow-at-6-percent-in-fy19-despite-volatility/story/385179.html


The recent move to reduce corporate tax will give a generous fillip to our ailing economy and have a positive effect on the stock market, said Abhijit Bhave, CEO, Karvy Private Wealth

Direct equity investments continue to be the favourite of investors, growing 6.39 per cent in 2018/19, in spite of stock markets remaining lacklustre and volatile in the last one year. At Rs 52.10 lakh crore, investments in direct equity comprise one-fifth financial assets which saw investments by individuals, according to Karvy India Wealth Report 2019.
"This shows the belief of investors in the Indian equity markets, notwithstanding the volatility it has been through. We believe India's drive towards a $5 trillion economy will have a cascading positive effect on individual wealth," Abhijit Bhave, CEO, Karvy Private Wealth, said at the release of the company's India Wealth Report 2019. "The recent landmark move by the finance minister to reduce corporate tax will give a generous fillip to our ailing economy and have a positive effect on the stock market," he added.
Bank deposits, the second biggest in volume, saw growth of 8.85 per cent to Rs 45.82 lakh crore. The popularity of mutual funds has also picked up. This is evident from higher systematic investment plan (SIP) inflows and exponential increase in assets under management. Data shows a net inflow of Rs 92,693 crore in MFs through SIPs, an 38 per cent increase over FY18. Total individual wealth in MFs in India in 2018/19 stood at Rs 13.77 lakh crore, an increase of 18 percent over the previous year. Alongside, individual wealth in the country grew 9.62 per cent to Rs 430 lakh crore, continuing the acceleration over the last few years. A majority of this growth was achieved by 10.96 per cent rise in wealth creation by financial assets as compared to physical assets, which grew 7.59 per cent, the report said.


Labels:
Location: Mumbai, Maharashtra, India

Comments

Post a Comment

Popular posts from this blog

The World This Week 18th September 2020 to 25th September 2020

Indian Equity Summary: ·          The Indian market closed negative during last week. Equity market volatility was high as Nifty and Sensex dropped by 3.95 percent and 3.75 Ø percent respectively on a WoW basis as it tracked poor global cues ,in the midst of economic recovery uncertainty due to increasing COVID-19 infections and expiry of the September derivatives contract. Talks are on for another round of fiscal measures by the GOI before the festive season which may give necessary impetuous to the consumption side and may prove positive for the equities market. On the other hand the $2.2 trillion coronavirus package that could be voted on next week in US can give a massive boost to the US economy and the world markets.   ·          Going forward, global factors like development on the US -China relationship front , US elections ,India Ø & China border issues while domestic factors like FII/DII inflows , inflation trajectory and USD/INR rates ; will continue to dictate the
Post a Comment
Read more

KARVY GROUP STARTS CORPORATE RESTRUCTURING

Appoints Mr. Amitabh Chaturvedi as Group CEO – Financial Services Mumbai, December 31, 2019: The Karvy Group announced today that it is in the process of restructuring its overall business into two verticals - Financial Services and Non- Financial Services. As a part of this process, the company has also initiated a major management reshuffle. The move is expected to improve the overall governance and functioning across the enterprise. Mr. C Parthasarathy, Chairman, Karvy Group, announced the appointment of the industry veteran Mr. Amitabh Chaturvedi as Group CEO - Financial services with a mandate to completely overhaul the governance processes, ensure best practices and to bring in greater fiduciary discipline to these businesses. He has previously been associated with leading organizations such as Dhanalakshmi Bank, Reliance AMC, ICICI and the Essel Group and has over 30 years of experience in the financial services space. Speaking on this development, Mr. C Parthasar
Post a Comment
Read more

Individual investor wealth up 10% at ₹430-lakh cr

Individual investor wealth across various investment avenues registered an impressive growth of 10 per cent to  ₹ 430-lakh crore last fiscal compared to  ₹ 392-lakh crore logged in the financial year ended March 2018. According to 10th Karvy Private Wealth report released here on Wednesday, individual investors’ wealth in financial asset increased 11 per cent to  ₹ 262-lakh crore ( ₹ 236-lakh crore) with direct investment in equity, fixed deposit and insurance topping the chart. Investments in physical assets such as real estate and gold increased eight per cent to  ₹ 167-lakh crore ( ₹ 156-lakh crore) in FY19. The proportionate of financial assets has moved up to 61 per cent from 57 per cent in the last five years. Interestingly, investments in gold exchange traded fund (ETF) fell five per cent to  ₹ 2,661 crore against  ₹ 2,798 crore in FY18 largely due to emergence of sovereign gold bond which attracted an investment of  ₹ 7,960 crore ( ₹ 6,960 crore). Karvy Private Wealt
Post a Comment
Read more