An analysis of more than 24 lakh customers showed that while the iOS users constitute just 14% of the customer base, they contributed an average assets under management (AUM) of Rs 44.6 lakh, which is 210% higher than that of android users at Rs 14.4 lakh, as on 31, October 2022.
According to the brokerage, the top 5 sub-products traded in FY23 by both users are the same – equity, followed by MF Equity, IPO, MF SIP, and Primary Market ETF.
The average revenue generated in FY23 stood at Rs 18,800 for iOS users compared with Rs 7,200 for android users, the brokerage said. The iOS users have an average product per customer (ppc) of 3.6, while android users have 2.5.
About 55% of the android users come from Tier-3 cities, while 48% of iOS users come from Tier-1 cities.
Furthermore, while 60% of the android users are below 35 years, 62% of the iOS users are above 35 years of age.
“It was also observed that 80% of android users are male and 19% are female, while 71% of iOS users are male and 28% are female,” it said.The retail participation in equities in India has grown significantly over the last 2-3 years.
The monthly inflows through systematic investment plans or SIPs touched another record high in January at Rs 13,856.18 crore.
Equity mutual funds saw total inflows of Rs 12,546.5 crore in January, way higher than Rs 7,303.4 crore in December. And, the number of mutual fund folios at 14,28,43,642, also hit another record in the last month.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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