New Delhi, Oct. 21 -- Millennials constitute nearly half of not just India's population but also the country's mutual funds investing community. According to a report by Deloitte India and lobby group Retailers Association of India, millennials are now 47% of India's workforce. Further, according to data from Computer Age Management Services (Cams), a transfer agency which services 68% of MFs in India, of the 3.6 million new MF investors it on-boarded in FY18-19, 47% (1.7 million) were millennials (between 20 and 35 years).

Generation Y or millennials are the first generation to grow up with fast internet, smartphones and the sharing economy. Career-wise, millennials faced the shock of the 2008 recession and the slow pull of the recovery...