The mutual fund industry is attracting more retail investors and it has become more relevant for Indians, said the Managing Director of HDFC Asset Management Company Ltd here on Thursday.
He also said an online financial planning tool will be helpful for investors to plan their savings.
"More number of retail investors are investing in mutual funds now. Of the total savings by Indians, around 16-17 per cent are in asset class that can be touched and felt -- gold, real estate and 7-10 per cent in financial assets. In the last 10 years, the investment landscape has changed," Milind Barve, Managing Director of HDFC Asset Management Company, said.
He was here to launch the online financial planning tool of Geojit Financial Services.
According to Barve, the mutual fund industry's success is measured as a percentage of total bank deposits in the country.
He said the share of bank deposits in the savings has gone down while that of mutual fund has gone up during the last five years.
However, he said investments linked to life goals like planning for retirement, kid's education and others are still in its infancy.
Barve said for HDFC Asset Management, the focus is on retail and it gets nearly 60 per cent of the investments from retail investors.
The fund is expecting to log 35 per cent growth this fiscal.
Speaking about online financial planning tool, Executive Director of Geojit Financial Services Satish Menon said the programme captures the personal profile and the risk appetite of an investor.
Based on the income, goals, risk appetite, the online tool can also suggest ideal investment options.
He said the fee for enrolment for online financial planning tool is Rs 999 (an introductory price valid for three months) while the actual fee is fixed at Rs 1,999 with subsequent renewal priced at Rs 999.
--IANS
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