Highlighting the need of incorporating new financial products in women’s investment portfolio, LIC Mutual Fund (LIC MF) has launched a campaign to promote increased women participation in mutual funds through SIP.
The main objective of this campaign is to give maximum visibility to the unique features of SIP and promote its advantages among women, especially those who rely on conventional financial products to park their hard-earned money. The campaign also focuses on the urgency of having a financial plan and a regular and recurring investment option like SIP at early stages of life, which is critical in meeting one’s long-term goals.
About the campaign, T.S Ramakrishnan, chief executive officer (CEO), LIC MF, said, “The women population in India was more than 48% in the year 2022. Historically, the country has reported a low female labour force participation rate. But the scenario is changing fast. The proportion of women among the working population has been on the rise or at least steady in recent years.”
He added, “About 29.4 percent of women, aged between 15 and 59, were part of India’s labour force in 2021-22. When more women join the labour force every year, it brings more money into their hands, which necessitates better investment avenues for their savings. A large section of women, especially from the rural setting, still resort to conventional products to grow their hard-earned money. They have diverse life goals. Often, due to lack of information or awareness, they are denied diversified avenues. Our campaign is centred on that theme.”
The campaign will highlight the benefits of investing through SIP.