Skip to main content

Individual wealth in India grows 9.62% in FY19:Report


The rise in wealth has marked higher domestic participation in the capital markets, mutual funds, making the trend a sustainable one, according to India Wealth Report 2019, published by Karvy Private Wealth.

Financialisation of household savings, a key to nation building, gathered pace in FY19 with individual wealth in financial assets rising double digit. The rise in wealth has marked higher domestic participation in the capital markets, mutual funds, making the trend a sustainable one, according to India Wealth Report 2019, published by Karvy Private Wealth.

Individual wealth in India grew by 9.62% in FY19 to Rs 430 lakh crore. The major growth rate of 10.96% was seen in financial assets as compared to physical assets, which grew by 7.59%, the report said.

“There has been a talk of increased financialisation of savings in the recent past. Evidence of this has been clearly seen in the last five years,” Karvy said. “The proportion of financial savings has gone up to 60.95% from 57.25% in last 5 years. “We expect a continued shift towards financial assets in India in near future as well.”



Read more at  https://economictimes.indiatimes.com/news/economy/indicators/individual-wealth-in-india-grows-9-62-in-fy19-report/articleshow/71652515.cms




Labels:

Comments

Post a Comment

Popular posts from this blog

MUTUAL FUND SNAPSHOT - OCTOBER 2020

  ·      The mutual fund industry witnessed net outflows to the tune of ~52,091 cr in September 2020 as against net outflows of ~INR 14,553 cr in August 2020. The equity category witnessed net outflow of Rs ~1009 cr in September 2020 as against net outflow of Rs ~ INR 4028 cr in the previous month. ·          AUMs of debt, equity and hybrid schemes in August 2020 accounted for 49.9%, 29.5% and 11.0% respectively of the overall AUMs; the balance ~9.6% was contributed by solution oriented and other schemes. ·          AUM of the mutual fund industry declined by 2.3% MoM (INR63,407 Cr) to INR26.86 Lakh Cr in Sept 2020. On QoQ basis, the total AUM of Mutual Fund increased by 5.4% and 9.6% YoY.   ·          Domestic mutual funds were net equity sellers in last 4 months. Mutual Funds v were net equity sellers to an amount of INR 904.69 Cr...
Post a Comment
Read more

The World This Week – 7th – 15th Nov 2020.

Indian Equity Summary- ·          Optimism had rubbed its positive impact on the domestic market over the initial performance of Pfizer's Covid vaccine and the outcome of the US presidential election. Nifty and Sensex ended on a WoW basis in green and increased by ~4 percent. The government announced a series of stimulus initiatives, including credit support for stressed sectors, employment creation incentives and multiple measures for construction and housing, as boosters for the Covid hit economy under Aatmanirbhar Bharat 3.0, which boosted the market sentiment. ·          Going forward, with the uncertainty due to US elections moving out of the way volatility will reduce substantially leading to money moving towards the riskier assets; domestic factors like ongoing Q2 corporate earnings season, and FII/DII inflows and USD/INR rates ; will continue to dictate the trend of the domestic equity market. We...
Post a Comment
Read more

DISTRIBUTION OF FINANCIAL PRODUCTS

Don’t put all your eggs in one basket. Diversify your investments in a wide range of financial products and ensure safety and growth of your portfolio. WHAT ARE FINANCIAL PRODUCTS? Securities and investments created to provide buyers and sellers with short term or long term financial gains are known as financial products. These allow liquidity to circulate in an economy and risk to be spread. Many of the financial products are in the form of contracts that you can negotiate on financial markets. The contracts stipulate cash movement at present and in future, depending on conditions stated. Financial products can help us grow the amount of money we have to meet various financial goals, such as retirement, children’s education, marriage and so on. Before you invest in any financial product, you should learn about any potential risks, limitations, costs as well as other characteristics of the products. TYPES OF FINANCIAL PRODUCTS The number of financial products and servic...
Post a Comment
Read more