Retail Vs HNI: What’s Really Changing In Mutual Fund Investments?

AMFI data shows retail investors’ share of mutual fund AUM has fallen to 59.5% from 62.2% two years ago. But Feroze Azeez, Joint CEO, Anand Rathi Wealth, says the headline numbers can be misleading because mutual funds include equity, debt, liquid, arbitrage and other categories. He believes genuine retail participation in equity mutual funds has increased significantly, supported by strong SIP flows. At the same time, high-net-worth investors appear to be reducing their mutual fund exposure and redeeming lump-sum investments. Azeez explains why the terminology around “retail” and “HNI” investors is creating confusion in the data.