Retirement, buying a home and educating a child were the top financial goals for women. (Representational image)
Gender-wise portfolio analysis shows that on an average, women had 20% smaller portfolios than their male counterparts.
An analysis by investment platform Kuvera shows that one in four investors is a woman.
Data analysis of 1.6 million Kuvera investors found that the number of women investors has improved compared to last year, indicating better financial literacy among women.
Of the total investors on the platform, 26% were women. This is a significant improvement over 19% in March 2022, the report said, showing the results of various financial literacy activities carried out by industry participants.
Retirement, buying a home and educating a child were the top financial goals for women.
Women investors from the National Capital Region, Bengaluru and Mumbai constituted 30% of all women investors in the country, indicating better financial literacy among women in metro cities.
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However, nearly six out of 10 women investors were from tier 1 and 2 cities, indicating that financial literacy among women is not limited to top tier cities only.
“We have seen a marginal improvement from last year (~19% in 2022). While this demonstrates the growing awareness of financial planning among women, we clearly have a long way to go to achieve investment parity,” said Gaurav Rastogi, Founder and CEO, Kuvera.
The analysis also found that male and female investors turned out to be slightly smaller this year than last year. The average age of female investors is now 33 (versus 34 in 2022), a sign that younger women are taking control of their finances.
However, the higher average age of women investors indicates that they are likely to start investing later in life than men.
Gender-wise portfolio analysis shows that on an average, women had 20% smaller portfolios than their male counterparts.
“The higher average age among women, combined with a 20% younger average portfolio size, makes it clear that the gender pay gap is real, and it takes women longer to reach the age when they want to feel in charge of their finances.” Let’s start,” said Rastogi.
Tax-saving funds continue to be a favorite among women as the share of women investing in these funds has seen a steady and significant increase over the years – from 23% in FY20 to 29% in FY23.
Incidentally, the average female investor invests more in equity linked savings schemes than the average male investor, with 29% women investing 32%.
“Greater market participation from citizens will strengthen our financial markets, grow businesses and GDP. And women will play a big role in driving this change to drive India’s economic transformation,” Rastogi said.
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