80% of millennials, Gen Z rely on 'finfluencer', social networks for investment info: Study

The Navi Mutual Fund's study also highlighted that 'returns' are the top priority for 1 out of 2 investors in selecting the fund

By  Storyboard18Jun 28, 2024 5:33 PM
80% of millennials, Gen Z rely on 'finfluencer', social networks for investment info: Study
Sebi has tightened the screws on finfluencers by barring partnerships with regulated entities

A recent study by Navi Mutual Fund has revealed that 80 percent of millennials and Gen Z rely on their social networks and finfluencers for investment information. The Navi MF's study also highlighted that "returns" are the top priority for 1 out of 2 investors in selecting the fund (both active and index fund).

According to Navi Mutual Fund, one in three index fund investors did not fully understand the concept of index funds.

Further, the study highlighted some misconceptions about investment and mutual funds. Such as, over 60% of respondents believed that mutual fund investment requires extensive financial knowledge. Another misconception, the study pointed out was that a large lump sum is required to start investing. And, nearly 50% of non-users fear their investments are not secure if the investment apps shut down.

Notably, market regulator Sebi has tightened the screws on finfluencers by barring partnerships with regulated entities. Sebi barred regulated entities from partnering with anyone, "who, directly or indirectly, provides advice or recommendation or makes any implicit or explicit claim of return or performance, in respect of or related to security or securities unless permitted by the Board".

First Published on Jun 28, 2024 5:33 PM

More from Storyboard18

Advertising

Navi Mumbai airport sells 70% of ad space before opening; Jewar follows close behind

Navi Mumbai airport sells 70% of ad space before opening; Jewar follows close behind

Digital

YouTube turns 20: 20 billion videos, 20 million daily uploads and a reinvention

YouTube turns 20: 20 billion videos, 20 million daily uploads and a reinvention

Digital

Apple to shift assembly of all US-sold iPhones to India by 2025

Apple to shift assembly of all US-sold iPhones to India by 2025

Advertising

UP govt plans to replace traditional hoardings with digital displays

UP govt plans to replace traditional hoardings with digital displays

Digital

Perplexity AI joins forces with Motorola to bring answer engine to smartphones

Perplexity AI joins forces with Motorola to bring answer engine to smartphones

Brand Makers

Rob Lake and the return of live spectacle in a digital world: The master of illusion in India

Rob Lake and the return of live spectacle in a digital world: The master of illusion in India

Brand Marketing

Zerodha’s Nithin Kamath raises alarm over apps misusing user data without consent

Zerodha’s Nithin Kamath raises alarm over apps misusing user data without consent

Digital

Alphabet Q1 2025: Google's ad revenue growth slows, hits $66.89 billion in the quarter

Alphabet Q1 2025: Google's ad revenue growth slows, hits $66.89 billion in the quarter