Contact Your Financial Adviser Money Making MC
29
October 2018
 |
investment savvy economy (The Total Investment & Insurance
Solutions)
India is Asia's most investment savvy economy
and more than two-thirds of the country's affluent class prefer to use various
investment products to achieve their financial goals and greater social
mobility, says a study.
According to a new Standard Chartered study
of 11,000 emerging affluent consumers across Asia, Africa and the Middle East,
68 per cent of Indian people belonging to this segment are using investment
products to achieve their financial goals, as compared to an average figure of
57 per cent. For the purposes of this study ‘investment products' refers to
fixed income investments, stocks, equities, mutual funds, unit trusts,
investment-linked insurance, self-invested pension funds, real estate
investment trusts (REITS) and real estate property funds.
As per the study, the number one financial
goal for India's emerging affluents is saving towards their children's
education which is also the top savings priority across the markets in the
study. "It is exciting to see that social mobility is booming among the
emerging affluents, and that they are outstripping their parents' success in
education, careers and home ownership," said Shyamal Saxena, Head - Retail
Banking, India, Standard Chartered Bank.
Saxena
further noted, "digital financial products are enabling the emerging
affluents to achieve their goals, and these tools will be crucial in helping
them take their personal financial success to the next level".
The study said, 31 per cent of emerging
affluents is selecting mutual funds, a quarter (25 per cent) choosing fixed
income investments and 22 per cent equity investments. All figures are higher
than the average in the study, which is 16 per cent, 19 per cent and 18 per
cent, respectively.
The Emerging Affluent Study 2018– Climbing
the Prosperity Ladder– examines the views of emerging affluent consumers –
individuals who are earning enough to save and invest – from 11 markets across
Asia, Africa and the Middle East.The
Total Investment & Insurance Solutions
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