Radhika Gupta, CEO of Edelweiss Mutual Fund, shared that she recently received a WhatsApp message indicating that Dream11 users outnumbered mutual fund investors by five times. On Wednesday, Gupta shared an image showing this statistic on X (previously known as Twitter), acknowledging that there is still significant work to be done in the mutual fund sector.
"I received this on what’s app. A lot of work for us to do!" Gupta wrote in the caption of her post.
According to the image, the number of Dream11 users stood at 20 crore, whereas the number of mutual fund investors amounted to 4 crore. The post garnered a variety of responses from users. While some agreed with her perspective, others held different opinions.
“I think that's a wrong way to compare. Many teens and students can't contribute much to mutual funds due to a lack of income, but they can still gamble small amounts on these gaming platforms,” wrote one of the users.
Another user wrote, “One of the reasons is information overload and asymmetry for the retail investors. They are so busy in their life that they have to follow some tips from their best friends or some telegram group. Informed decisions are the key to increase these numbers.”
A third user wrote, “I believe financial literacy in india is highly under penetrated, compared to cricket! Plus I don’t think so many people playing on dream11 have that kind of money to invest..”
“Radhika, the problem is that todays youth can spend 1000 Rs a month on cigarettes and coffee but will not think of an investment mindset. That day you crack a creative way of communicating that, you will build a bridge. I have extensive experience working with this generation during my MTV stint, I can suggest you ways to craft your messaging in a way that can appeal to this generation. Let me know, happy to help. Cheers!” another user wrote.