Digitally invested Assets Under Management (AUM) are likely to grow 80 per cent to Rs 450 billion in 2019, said a report said on Tuesday. In 2018, the total value of AUM investments made through digital channels was Rs 250 billion.
"Deloitte India predicts that wealth management in the country will see a continuous and significant shift towards 'digital investing', i.e., investment in financial assets through mobile or web applications," said the 'Technology, Media and Telecommunications India Predictions 2019'. "In comparison, overall retail AUM is expected to grow 37 per cent. In other words, digital investing will grow at more than double the rate of overall investment in mutual funds," it said.
It further said if the projected growth rate for 2019 continues beyond the year, the AUM for individual investments in mutual funds invested digitally will cross Rs 1 trillion by 2021. In finance, assets under management, sometimes called funds under management, measures the total market value of all the financial assets which a financial institution such as a mutual fund, venture capital firm, or brokerage house manages on behalf of its clients and themselvesTechnology will play a crucial role in providing equal access to investments and wealth management, the report said.
On the over-the-top (OTT) streaming platforms, the report said the segment will witness growth both in terms of demand and supply and the online video audience is likely to double over the next three years. "Young population, smartphone penetration, low cost broadband quality and breadth of content, digital payment ecosystem are factors driving the demand for OTT video content in India," it said.
Jehil Thakkar, Partner, Deloitte India said: "This is a good time to be a consumer in the Indian market because of the availability of more options, improvement in quality and quantity of content, and attractive pricing driven by competition. Large players have entered the Indian OTT market and allocated sizeable budgets for creating original and exclusive content." Thakkar, also noted that the industry's full potential is yet to be seen.
(With inputs from agencies.)