A latest analysis into the investor behaviour has revealed that an increasing number of new investors coming to the Indian stock markets are looking at index funds to invest in the equity markets. An analysis by online wealth management platform Kuvera finds that 15 per cent of the investors that started investing in 2023 showed a clear preference for index funds. This assumes significance as the share was never so high in the last 10 years that the study has analysed. “Newer investors on Kuvera show a steadily growing preference for Index funds. For those who started investing in 2023, 15% of funds in portfolio were index, highest ever,” stated the report. In 2014, this share was in the range of 5-7 per cent even as the share steadily increased over the years and was pegged in the range of 12-13 per cent. Incidentally, the average number of fund schemes in an investor portfolio saw an increase with an increase in the age bracket. While those in the 25-30 age bracket, on an average, had six schemes in their portfolio, the number increased to nine for the 36-40 age bracket. More importantly, the average number of funds was pegged at 10 for each of the following age categories – 41-45, 46-50 and 51-55. The online wealth management firm recommends keeping eight schemes on an average in the portfolio as “adding more schemes makes tracking, rebalancing and managing the portfolio harder.” Meanwhile, mutual fund schemes that were most bought during the year were Parag Parikh Flexi Cap Growth Direct Plan, UTI Nifty 50 Index Growth Direct Plan, Quant Small Cap Growth Direct Plan, Quant Mid Cap Growth Direct Plan, and Axis Small Cap Growth Direct Plan. On the other hand, the most sold schemes were Axis Bluechip Growth Direct Plan, Axis Focused 25 Growth Direct Plan, Axis ELSS Tax Saver Growth Direct Plan, ICICI Prudential Technology Growth Direct Plan and Aditya Birla Sun Life ELSS Tax Saver Growth Direct Plan. In terms of goals, buying a home occupied the top slot with 24 per cent, followed by retirement planning at 20 per cent, and car at 16 per cent. Interestingly, education was the top goal for a mere nine per cent. Also Read: D-Mart owner Avenue Supermarts’ net profit rises 17% to Rs 691 crore in Q3FY24 Source link Post Views: 11 Post navigation Smart Ways to Invest Your Money This Year Common money belief could cost you ‘millions of dollars’