NJ Wealth Distributors: Aiming to Expand Reach of Mutual Fund Investments in India
LR: Neeraj Choksi,Jignesh Desai,CO-Founder,NJ Group
New Delhi (India), June 29: Mutual funds have become a crucial part of investments, wealth building, and regular savings. Despite the growing awareness of mutual funds, it is estimated that only 2.6% of India's population has invested in mutual funds, as per the Association of Mutual Funds In India (AMFI). Further, the mutual fund penetration is also significantly lower than other countries' penetration rates when seen as the ratio of mutual fund AUM to the GDP ratio, where India’s standing is at a mere 17%, compared to the US, France, and the UK's 140%, 80%, and 67%, respectively (AMFI & World Bank, 2021).
The number of mutual fund distributors in India is also a matter of concern. Currently, there are only 1.31 lakh dis...