Rs 14,000 cr is Goa Mutual Fund market size: expert
Terms MF investment as a safer option; urges Goans to invest more in MFs
The investment advisor said that the average per capita investment amount in Goa is the highest in India with Rs 75,000 it can go up to 1 lakh.
“Mutual Fund is cost-efficient compare to insurance and real estate. There are thousands of excuses to justify the lack of investments. But, there is just one simple way to overcome all these challenges - Systematic Investment Plan (SIP),” she said.
PANAJI: The total market size of the Mutual Fund sector in Goa is a whopping Rs 14,000 crore, which is currently largely untapped but has the potential to yield high returns, independent financial advisor Jennifer Mendes said.
“Goans are traditionally risk-averse they don’t like to take unnecessary risk. They like to have tangible assets. They like to spend a lot fewer money savers. It should be a continuous process of changing the psychology of investors from risk-averse to take some amount of risk in equity. The best option available for them is the asset allocation fund,” Mendes said.
Many people often have the wrong notion that they have to collect a large sum to start investing. But that is not correct.
Citing an example regarding SIPs, she said, ICICI Prudential Freedom SIP offers a monthly SIP that can give a long life monthly income.
“With SIPs, everybody has the freedom to get rich. All you need is patience, discipline, and focus. SIPs are today the preferred way for small and big investors due to the convenience this route brings. It helps you to automatically prepare for life’s commitments such as a home purchase, marriage, holiday and children’s education in a planned manner," she said