BackDigitally invested assets under management may grow 80% in 2019: Deloitte
Digitally invested AUM for individual investments in mutual funds will cross ₹1 lakh crore by 2021 Overall retail AUM is expected to grow around 37%
PremiumNEW DELHI : Digitally invested assets under management (AUM) are likely to grow nearly 80% to ₹45,000 crore in 2019 from ₹25,000 crore in 2018, said consultancy firm Deloitte India Tuesday.
Digitally invested AUM for individual investments in mutual funds will cross ₹1 lakh crore by 2021 if technology-based growth trend in investments continues beyond 2019, according to a report by Deloitte India, titled 'Technology, Media & Telecommunications India Predictions 2019'.
In comparison, overall retail AUM is expected to grow around 37%, said the report.
"In other words, digital investing will grow at more than double the rate of overall investment in mutual funds. If the projected growth for 2019 continues beyond as well, the AUM for individual investments in mutual funds invested digitally will cross ₹1 trillion ( ₹1 lakh crore) by 2021," the report said.
It added that fixed deposits (FDs) through digital channels will exceed 50% of all FDs opened by 2022, and one in every two retail investors will use a digital platform to buy or sell equities by 2025.
"In all, technology will play a crucial role in providing equal access to investments and wealth management," the report said.
It said next growth phase of India's digital expansion will be led by mobile-first and voice-first technologies where people will use voice commands to use technology.
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