As of March 2025, women investors in India have allocated 65% of their mutual fund assets to equities, rising significantly from 40% five years prior. This shift is notably stronger in smaller towns beyond the top 30 cities (B30). While market values have fluctuated, the continuous growth in account numbers suggests a steady long-term commitment to equity investing.
Indian women investors have notably increased their focus on equity mutual funds over the last five years. Data as of March 2025 shows that equities now account for 65% of total mutual fund portfolios held by women, a sharp increase from the 40% recorded in March 2020. This 25-percentage-point rise shows a faster pace of shifting toward risk-oriented investments compared to the broader mutual fund industry.
Regional Differences in Investment Choices
There is a clear divide in how investors approach equity in different parts of the country. Data from July 2026 highlights that investors in areas beyond the top 30 geographical hubs, known as B30 regions, have a higher appetite for equity, with these schemes making up 65.9% of their total assets. In contrast, investors in the more developed T30 centers hold 39.8% of their mutual fund assets in equity schemes. This data suggests that while T30 investors might maintain more balanced or debt-heavy portfolios, B30 investors are increasingly embracing equity-focused growth strategies.
Resilience in Account Growth
Despite swings in market valuation, the number of individual investment accounts, or folios, has remained resilient. Between February 2026 and March 2026, while the total value of assets under management in equity funds dipped from Rs 35.39 lakh crore to Rs 31.98 lakh crore, the number of folios actually rose from 18.12 crore to 18.27 crore. This pattern points to a retail investor base that continues to add money or stay invested even when the market value of their holdings declines.
Looking at the broader five-year trend, equity fund folios grew from 7.3 crore in August 2021 to 18.9 crore by August 2026. For investors, this trend highlights a potential shift in risk tolerance and financial planning behavior. While this shows increased participation, it also means that a larger portion of personal savings is now directly linked to market performance. The key monitorable for the future will be how these portfolios behave during prolonged market corrections, as the true test of this increased risk appetite often comes when markets face sustained pressure.