Individual
investors in Punjab have placed their trust in equity the most, Karvy
Private Wealth said on Wednesday.
"Individual investors in
Punjab have opted for a higher allocation to equity products in their mutual
fund portfolio at 68.11 percent, as compared to the national average of 64 percent,"
the wealth management arm of Karvy Group said in a statement while quoting its
India wealth report 2019.
Chandigarh, Ludhiana, Amritsar
and Jalandhar have all recorded a higher equity share in total assets under
management than the national average, the statement said.
"Keeping in mind the
volatility in the markets, term deposits continue to remain a safe bet for
investors. The Overall growth rate in deposits is close to the national growth
rate. Amongst the cities in Punjab, Chandigarh recorded the highest year on
year growth at 12.12 percent, followed by Amritsar at 11.39 percent," it
further said.
Karvy Private Wealth CEO Abhijit Bhave said
direct equity continues to hold the fort in terms of investment preference in
India. This shows the belief of investors in the Indian equity markets
notwithstanding the volatility it has been through.
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