82 per cent women prefer modern options for investment: Survey
A survey has showed that as many as 82 per cent women are preferring stocks and mutual funds to meet their investment goals. The survey conducted by investment platform Groww, in which 26,000 women participated, also showed that 43 per cent women chose traditional avenues such as fixed deposit and public provident fund to park their money.
Gold remained the top investment choice with 25 per cent women investing in it, 13 per cent chose real estate and 9 per cent women chose to invest in a pension scheme, according to the survey.
The survey noted that 64 per cent women are financially confident and take investment decisions on their own.
It also noted that income and education levels did not have a significant bearing on the investment options women selected. "52 per cent of women earning less than Rs 5 lakh said they were actively investing and chose stocks and mutual funds as their preferred investment option," the survey said.
Providing insights on the tenure of investment, the survey noted that 59 per cent women save for the long term. Of this, 50 per cent women opt for an investment time horizon greater than 10 years.
The survey found that 41 per cent respondents cited retirement as their primary goal, followed by investment for higher education and marriage of their children.
Women investing for five years or less cited personal pursuits and investment for supporting their parents as their investment goals.
As many as 80 per cent women said higher returns encouraged them to invest. Besides, for 40 per cent women ease of investing and for 26 per cent women liquidity play a major role in making investment decisions.