• 14-city
survey shows that only 18% of the surveyed single working women & 23% of
working women (single and married) make their own investment decisions in India
as on September, 2015
•
Barely 13% of married working women are sole decision makers
•
Women are inclined towards safety and believe in long term investing
•
Most women are only informed of investment decisions, already taken; or / at
best are joint decision makers.
•
Proportion of sole decision makers is significantly high among divorced &
widowed.
An overwhelming 77% of working
women depend on spouse and / or parents for their investment decisions, says
the new DSP BlackRock study conducted by global research agency Nielsen.
Only a miniscule 23% of the
surveyed working women claim to be sole decision makers, when it comes to their
own investments.
This figure is even lower (18%
and 13% respectively) when it comes to the proportion of single working women
and married working women who take their own investment decisions.
The study, ‘Understanding Women
– Usage and attitude towards financial products’, is based on a pan-India
survey of more than 4,750 women spread across 14 cities (6 metro cities and 8
non-metro cities) to understand the women usage and attitudes towards financial
products.
The study, which is part of DSP
BlackRock’s ‘Winvestor – The wise woman investor’ initiative, also examined
factors that facilitate or impede their investment decisions, besides their
attitude & expectations from financial products. The survey covered working
and non-working women between 21 – 60 years of age, and included divorcees and
widows.
According to the survey, while
92% of working women claim to be involved in the investment decision-making
process, 70% of these women are actually joint decision makers and a majority
of these, at 52%, are only informed about the investment decisions which have
already been made.
The main reason why women don’t
take investment decisions is that they are safety oriented and reluctant to
take risk, the survey notes. Husbands also seem to dominate the investment
decision making among working as well as non-working women.
While the proportion of Sole
Decision Makers among working women is similar in metros at 24% and non-metros
at 20%, in case of non-working women, sole decision makers are confined mostly
to metros.
The survey also observes that
the proportion of sole decision makers among working as well as non-working
women is significantly higher among the divorced and widowed.
While analysing women’s main
reasons to invest, the survey notes that future security and child’s education
form the key reasons for investments, especially amongst women in non-metros.
Although the desire to invest with an objective to become rich is lower
compared to the other reasons, it is observed to be higher among women in
metros. Tax does not feature as a primary reason for investments among women
surveyed.
The
survey also highlighted the safety aspect when it comes to women and
investments. Women are inclined towards safety while investing and hence put
more money in instruments that yield fixed returns. Most of the surveyed women
also feel that they are controlled and disciplined about their spending.
When
it comes to trusting various financial institutions, it was observed that women
trust nationalized banks (88%) almost twice as much as they trust Indian
private banks (43%) and foreign banks (24%).
Ms. Aditi Kothari, Executive
Vice President and Co- Head Marketing, DSP BlackRock Investment Managers Pvt
Ltd said, “This research was part of
our Winvestor initiative to gather crucial data that can be used to spread
awareness regarding financial independence amongst women.
We hope that this study is an
eye opener to the alarming lack of women’s involvement in making their own
investment decisions; and motivates them to take more interest in managing
their own money.”
About Winvestor
‘Winvestor’ is an Investor
Education Initiative by DSP BlackRock Mutual Fund that aims to encourage women
to start taking well informed financial decisions on their own by encouraging
them to meet an advisor and to get interested in their personal finances.
The Winvestor program comprises
of a series of initiatives, the details of which can be viewed on our website
http://dspblackrock.com/Winvestor
About DSP BlackRock
Investment Managers Pvt Ltd.
DSP BlackRock Investment
Managers, a Joint Venture between the DSP Group and BlackRock is one of the
premier Asset Management Companies in India.
The DSP group has a track
record of over 145 years and through its investment companies owns a 60% stake
in the joint venture. BlackRock Inc. which owns a 40% stake in the JV, is one
of the largest quoted asset management companies in the world and manages
assets in excess of USD 3.94 trillion as of March 31, 2013. For more
information, visit www. dspblackrock.com
About Nielsen ..
Nielsen
Holdings N.V. (NYSE: NLSN) is a global information and measurement company with
leading market positions in marketing and consumer information, television and
other media measurement,online intelligence, mobile measurement, trade shows
and related properties.
Nielsen has a presence in approximately 100 countries,
with headquarters in New York, USA and Diemen, the Netherlands. For more
information, visit www.nielsen.com
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