Young Non-Investors Feel Investing In Mutual Funds Requires Large Sum: Navi MF Study

Key Findings of StudyNavi Mutual Fund found that mutual fund returns remain the top priority for 1 out of 2 investors in selecting a fund. This is applicable for both active and index funds, the fund house said.Notably one out of three index fund investors were not fully aware of the concept of index funds. As per the study, index funds are preferred owing to lower fees and positive experiences from friends and family.The youth were also found to be over-dependent on social networks and fin-fluencers when making investment decisions. As much as 80 per cent of young investors said they rely on their social networks and fin-fluencers for investment decisions. Finfluencers may be underqualified individuals to give investment advice but have a considerable following on social media platforms and may offer financial advice for their own monetary benefits.Over 60 per cent of respondents seemed to have the misconception that mutual fund investment requires extensive financial knowledge, which deters them from investing, the study found.Further one out of three non-investors felt that a large lump sum is required to start investing. There is a misconception among 50 per cent of non-investors that investments are unsecure if the investment app is shut down.

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