56% Hyderabadis invest in mutual funds: Groww
There has been a growth in investors looking to invest in mutual funds, stocks and IPOs and Hyderabadis seem to have joined the bandwagon. As per a new survey by an investment platform, more than half of investors in Hyderabad prefer investing in mutual funds and the rest are betting big on stocks and investing through IPOs.
Investment platform Groww on Monday revealed that the platform has received significant interest from young investors in Hyderabad and Telangana and it has around 13,85,623 users in the State, of which 56 per cent are based in Hyderabad. Interestingly, 22.85 per cent of users are in the age group of 25-30 years on Groww’s platform, while 19.24 per cent of users in Hyderabad are in the age group of 18-24 years, and 17.13 per cent are between 31 to 40 years.
“Among these users, 56 per cent of investors on Groww’s platform prefer investing in mutual funds, 38 per cent in stocks and participation in IPOs stood at only 2.32 per cent,” the survey informed.
In Telangana, 47 per cent of investors on Groww’s platform prefer investing in stocks while 45 per cent opt for mutual funds. However, like in Hyderabad, IPOs witness limited participation, with only 5 per cent of investors from the State showing a preference for this asset class.
Groww co-founder and CEO Harsh Jain said, “Groww has witnessed an upsurge in retail investor participation from Hyderabad over the last few years and the city is home to many young working professionals in the IT-enabled sector, who have steadily demonstrated an appetite to invest. “The company on Monday concluded its on-ground event, Ab India Karega Invest in Hyderabad.
