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Clean energy exchange-traded funds (ETFs) have gained traction among young Indian investors in the first quarter of the year, says a report by Globalise, a platform for guided global investing.

The top ETFs in demand were ARK Innovation ETF (ticker symbol: ARKK), Renaissance IPO ETF (IPO), Small Cap Growth Vanguard ETF (BBK), Invesco WilderHill Clean Energy ETF (PBW), and Invesco QQQ Trust Series 1 (QQQ), according to the report.

“ETFs are popular investment vehicles in general because they provide a straightforward method to invest in a portfolio of assets. The growth-oriented technology sector seems to be the most popular among investors, just as it is in equities. Clean energy, on the other hand, is gaining traction among investors, as shown by the most popular ETFs on the Globalise platform during H1 FY2021," Globalise said.

The report also said young investors from Tamil Nadu and Maharashtra were looking at ways to diversify their portfolios and get exposure to the many possibilities accessible in a market like the US.

“India has one of the world's youngest populations in terms of average age. We also have a small but increasing population of young, ambitious people who understand the wealth-building possibilities of investing in the markets. Along with Maharashtra and Tamil Nadu, the national capital region of Delhi and the country's IT centre Karnataka, also accounts for a large proportion of our customer base," Globalise added.

The younger age groups make for more than 60% of consumers on the Globalise platform, said the Quarterly trends report.

In terms of age break, 40% of the users were in the age group of 26-35 years, followed by 23% each in 18-25 years and 36-45 years. Only 14% users were above 46 years.

In terms of popular stocks, Apple Inc, Alphabet Inc, Facebook Inc, Amazon Inc and Microsoft Corporation were among the top picks by Indian investors.

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