Gen Zoomers and their ever-growing love for mutual funds
Banks and large national distributors—seven and 13, respectively—remain the largest 20 mutual fund (MF) distributors in India by assets under management, per Association of Mutual Funds in India’s (AMFI) annual commission disclosures. But fintech platforms are capturing the incremental flows.
Industry data shows that eight of the 21 distributors with the largest new Systematic Investment Plan (SIP) registrations in October 2025 are fintech distributors. Fourteen of the top 50 distributors with the highest SIP collections were fintechs, including the largest, which recorded a realised SIP inflow of `3,461 crore in October. Higher incremental inflows and the pace of new SIP registrations at fintech firms point to a growing trend: Gen Zs are investing in mutual funds— and it’s fast and furious.
Also read: Sweatshirts in the C-suite: The era of Gen Z CEOs unfolds as we enter 2026
Nearly 48% of PhonePe Wealth’s MF investors are under 30, says Nilesh D Naik, head of investment products, Share.Market (PhonePe Wealth). The age profile of NSE investors shows a shift toward a younger population. Thirty-eight percent of investors registered on the NSE are under 30, up from 22.6% in March 2019, as per the stock exchange.
Data from Computer Age Management Services ( CAMS), India’s largest registrar and transfer agent by assets under management, shows that of 39.2 million investors in MFs (in CAMS-managed funds only), 8.18 million, or 21%, are Gen Zs.
Where do GenZ invest?
“Gen Z investors prefer to invest more in equity-oriented products; nearly 95% of Gen Zs begin their investment journey in mutual funds through equity,” says Naik. “This could be due to their higher risk appetite, influenced by the post-Covid bull market and/or (b) lower investment ticket size.”
Also read: Gen Z's growing influence: How youth are reshaping Indian politics and electoral campaigns
They enter stock markets much earlier than previous generations, says Sandiip Bharadwaj, managing director and CEO, Paytm Money.
CAMS MD Anuj Kumar notes that Gen Z’s investment behaviour points to a structural shift in savings.
Harsh Jain, cofounder and COO of Groww, one of India’s largest online mutual fund investment platforms, says, “Since Gen Zs are tech-driven, they prefer a DIY (do-it-yourself) approach.”
Industry data shows that eight of the 21 distributors with the largest new Systematic Investment Plan (SIP) registrations in October 2025 are fintech distributors. Fourteen of the top 50 distributors with the highest SIP collections were fintechs, including the largest, which recorded a realised SIP inflow of `3,461 crore in October. Higher incremental inflows and the pace of new SIP registrations at fintech firms point to a growing trend: Gen Zs are investing in mutual funds— and it’s fast and furious.
Also read: Sweatshirts in the C-suite: The era of Gen Z CEOs unfolds as we enter 2026
Nearly 48% of PhonePe Wealth’s MF investors are under 30, says Nilesh D Naik, head of investment products, Share.Market (PhonePe Wealth). The age profile of NSE investors shows a shift toward a younger population. Thirty-eight percent of investors registered on the NSE are under 30, up from 22.6% in March 2019, as per the stock exchange.
Data from Computer Age Management Services ( CAMS), India’s largest registrar and transfer agent by assets under management, shows that of 39.2 million investors in MFs (in CAMS-managed funds only), 8.18 million, or 21%, are Gen Zs.
Where do GenZ invest?
“Gen Z investors prefer to invest more in equity-oriented products; nearly 95% of Gen Zs begin their investment journey in mutual funds through equity,” says Naik. “This could be due to their higher risk appetite, influenced by the post-Covid bull market and/or (b) lower investment ticket size.”
Also read: Gen Z's growing influence: How youth are reshaping Indian politics and electoral campaigns
They enter stock markets much earlier than previous generations, says Sandiip Bharadwaj, managing director and CEO, Paytm Money.
CAMS MD Anuj Kumar notes that Gen Z’s investment behaviour points to a structural shift in savings.
Harsh Jain, cofounder and COO of Groww, one of India’s largest online mutual fund investment platforms, says, “Since Gen Zs are tech-driven, they prefer a DIY (do-it-yourself) approach.”
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