There has been a shift in the investment preferences of women investors, with the share of equity in their overall assets under management (AUM) rising from 43.3 percent in 2019 to 63.7 percent in 2024, according to a report by the Association of Mutual Funds in India (AMFI). At the same time, their investments in debt funds have declined.
Women investors have shown increased interest in passive investment strategies, particularly gold ETFs, which surged to 24.9 percent of their mutual fund AUM in 2024 from 5.2 percent in 2019, indicating a preference for electronic gold investments over traditional holdings.
Their investments in mutual funds have more than doubled over the past five years, with AUM reaching Rs 11.25 lakh crore in March 2024, up from 4.59 lakh crore in 2019. Today, women account for 33 percent of individual investors' AUM, with one in every four mutual fund investors in India being a woman.
Here are some other key highlights from the AMFI report:
SIPs for investment
Systematic Investment Plans (SIPs) have gained popularity among women investors. The report notes that the number of SIP accounts held by women has jumped by 269.8 percent since 2020 with a significant portion of this growth coming from smaller cities.
Preference for long-term investment
A growing commitment to long-term investment strategies is another trend amongst women investors. The share of women investors holding mutual fund assets for over five years has risen from 8.8 percent in 2019 to 21.3 percent in 2024. Meanwhile, the proportion of women investors with funds held for less than a year has dropped significantly, from 40.5 percent in 2019 to 25.4 percent in 2024. This shift signals a move toward strategic, future-oriented financial planning.
Women as distributors
Women are not just investing but also becoming financial advisors, with the number of female mutual fund distributors rising to 37,376 as of December 2024, accounting for 21.5 percent of India’s total mutual fund distributors.
Across India, the participation of women in mutual funds varies significantly by state. Certain regions, particularly in the Northeast, have seen strong investment activity. Mizoram, Nagaland, and Sikkim lead the way, with women contributing over a third of their states’ total mutual fund AUM. States such as Maharashtra, Gujarat, and New Delhi also show high levels of female investment participation, reflecting both financial awareness and access to resources. In contrast, states like Haryana, Rajasthan, and Bihar continue to lag in women’s financial inclusion.
Interest in direct plans
The report notes that investments held in regular plans account for about 79.67 percent of the total women's AUM as of March 2024, which declined from 85.80 percent in March 2019. “The adoption of direct plans increased from 14.20 percent in March 2019 to 20.33 percent in March 2024, indicating a growing trend of self-directed investing among women,” the report added.
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