Punjab investors prefer to invest in equity: Karvy wealth

Individual investors in Punjab have placed their trust in equity the most, Karvy Private Wealth said on Wednesday.

"Individual investors in Punjab have opted for a higher allocation to equity products in their mutual fund portfolio at 68.11 per cent, as compared to the national average of 64 per cent," the wealth management arm of Karvy Group said in a statement while quoting its India wealth report 2019.

Chandigarh, Ludhiana, Amritsar and Jalandhar have all recorded a higher equity share in total assets under management than the national average, the statement said.

"Keeping in mind the volatility in the markets, term deposits continue to remain a safe bet for investors. Overall growth rate in deposits is close to the national growth rate. Amongst the cities in Punjab, Chandigarh recorded the highest year on year growth at 12.12 per cent, followed by Amritsar at 11.39 per cent," it further said.

Karvy Private Wealth CEO Abhijit Bhave said direct equity continues to hold the fort in terms of investment preference in India. This shows the belief of investors in the Indian equity markets notwithstanding the volatility it has been through.