One In Four Unique Mutual Fund Investors In India Is A Woman, Says AMFI-Crisil Report

One in every four unique individual investors in mutual funds in India is a woman, reflecting a growing trend of women’s financial empowerment, according to a joint report by the Association of Mutual Funds in India and Crisil. As of December 2024, women accounted for 25% of mutual fund investors, aided by increased financial awareness and targeted initiatives.

The report highlights that women investors’ assets under management have more than doubled in five years, rising from Rs 4.59 lakh crore in March 2019 to Rs 11.25 lakh crore in March 2024. Women now hold 33% of the total AUM of individual investors, with increasing participation from smaller cities. The share of women investors’ AUM in B30 cities grew from 20.1% in 2019 to 25.2% in 2024, signalling deeper mutual fund penetration in non-metro regions.

"B30" refers to the locations beyond the top 30 geographical locations, or T30, as classified by the Securities and Exchange Board of India.

The report attributes this to a rise in female labour participation, and literacy has been a key driver of this trend. According to the Periodic Labour Force Survey of June 2024, the female labour force participation rate surged from 23.3% in 2017-18 to 41.7% in 2023-24. Rural women led this growth, with participation increasing from 24.6% to 47.6%.

Alongside, AMFI and asset management companies have conducted financial literacy campaigns, including 24 women-centric investor awareness programmes between April and December 2024, reaching over 5,700 women.

Investment preferences have also shifted significantly. Women’s allocation to equity funds increased from 43.3% of their total AUM in 2019 to 63.7% in 2024, while debt fund participation declined from 22.6% to 10.7%. The report also notes a rising interest in passive investment strategies, particularly in gold exchange-traded funds, whose share of women’s AUM surged from 5.2% in 2019 to 24.9% in 2024.

Across age groups, younger women are showing greater risk appetite, with those below 25 allocating 69.3% of their AUM to equities, while older investors prefer a more balanced approach. Women’s investment in large-cap equity funds declined by roughly 6% over five years, while small-cap fund allocation rose from 6.2% in 2019 to 10.2% in 2024.