CNBC-TV18's strives to create an Informed Investor by empowering them with knowledge under the Investor Education Act and help them make the correct financial decisions.
The show Informed Investor brings together people from various walks of life and demystifies the essence of investments and the myth of the market. The sector-specific forums will help to bring together the communities that can engage directly with the best financial minds in the country.
This special episode of Informed Investor brings together members of the legal community and tries to find out what their investment requirements are.
Teaming up with CNBC-TV18 in this endeavor is S Naren, CIO Equity, ICICI Prudential and Ambreesh Baliga COO at Way2Wealth.
When CNBC-TV18 decided to engage with the members of the legal community and find out what the investment requirements are, it thought the best way to go about it would be to perhaps find out what their current investment practices arewhat are they doing?
So CNBC-TV18 reporters and researchers scanned the length and breadth of the country. They engaged with lawyers from various law firms from across age groups and from various brackets of income and levels of experience. They had a lot of research that they found out and some of it is quite startling. About 40% of lawyers that we had surveyed said that they preferred investing in bank FDs.
Only 6% of the lawyers we surveyed who said they would be interested in perhaps equity or even mutual funds. 26% of the lawyers we surveyed still preferred the safety of holding onto solid gold or silver.
There were only 11% who said they were willing to invest in gold ETFs. A whopping 46% of those surveyed said that their annual investment was under Rs 1 lakh, which perhaps just about qualifies as their tax saving requirements. There were only 13% of the people who said that they invested between Rs 3-5 lakhs a year. It is perhaps is indicative of the lack of proactive approach towards