According to the talent management platform foundit (formerly Monster jobs), this exponential increase can be attributed to the convenience that the gig economy or the freelancing industry offers to participants…reports Asian Lite News
With improving ease of access to information and technology, more women investors are investing in mutual funds, the Association of Mutual Funds in India (AMFI) said.
The share of women in mutual funds’ assets under management (AUM) has shot up from 15.2 per cent in 2017 to 20.9 per cent in 2023.
This pace of growth is more prominent in the hinterland as compared to the urban centres, with the share of women’s folios and assets in the B-30 cities increasing from 15 per cent to 18 per cent and from 17 per cent to 28 per cent during the period, respectively, the AMFI said.
The age analysis of women investors indicates that almost 50 per cent of women investors fall in the 25-44 years age group, as compared to around 45 per cent for the overall set of individual investors.
Goa boasts the highest share of women in the mutual fund industry at 40 per cent, followed by the northeastern states with high 30s percentage. Chandigarh, Maharashtra, and New Delhi also have over 30 per cent share of women in the industry’s assets under management, as per the AMFI data.
Most women continue to invest through the regular plan route in mutual funds and stay invested for longer when investing through a mutual fund distributor.
The number of women mutual fund distributors has steadily increased, nearing the 42,000 registration mark as of December 2023, managing over Rs 1 lakh crore in AUM.
Meanwhile, the number of women opting for freelancing jobs in India doubled over the past year, jumping from 4 per cent in February 2023 to 8 per cent in February 2024, a new report showed on Monday.
According to the talent management platform foundit (formerly Monster jobs), this exponential increase can be attributed to the convenience that the gig economy or the freelancing industry offers to participants.
There has also been a 56 per cent increase in jobs for women candidates in February this year when compared to February last year.
“Female workers play a major role in the success of a company. They are proven to be hard-working and creative,” said Sekhar Garisa, CEO, foundit, a Quess company.
“Female leaders often demonstrate transformational leadership qualities, and having more women in a team promotes diversity and inclusion in the workplace,” he added.
Moreover, the report revealed that the IT/Computers-Software sector leads in offering opportunities to women, comprising 36 per cent of its workforce.
The Recruitment/Staffing/RPO sector (24 per cent) has the second-highest share of women in the workforce, followed by the Banking, Financial, Services, and Insurance (BFSI) sector (23 per cent).
The participation of women in the workforce has been positive and steady across the metro cities of Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune.
In addition, the report suggested that there has been a noteworthy increase in leadership opportunities for women, with 9 per cent of job postings specifically targeted towards leadership positions in February this year.
ALSO READ-UBS Hails Indian Economy
