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Business EconomyPosted at: Sep 28 2020 7:52PM


PhonePe forays into Mutual funds with seven new categories

Hyderabad, Sep 28 (UNI) PhonePe, the country's leading digital payments platform with over 230 million registered users, on Monday announced the launch of seven new mutual fund categories for customers to invest in.
This, along with Super Funds launched in May, 2020 and Liquid Funds, launched in January, 2020, will now offer a rich and comprehensive set of investment choices to over 230 million registered PhonePe users, who now have the choice to either opt for a solution that is fully managed by experts via Super Funds, or build their own portfolio through a selection of curated mutual fund schemes across nine categories.
The categories are Large cap, Mid and Small cap, Diversified Funds, Index Funds, Hybrid - Aggressive and Dynamic Asset Allocation, Debt, Liquid and Tax Saving Funds, the company said in a statement here.
With the launch of the new categories, PhonePe aims to cater to investors, who want greater control and flexibility in building their own investment portfolio, to suit their life goals and investment style, it added.
The Investing section on PhonePe app provides detailed information on every Mutual Fund, thus acting as a great education and decision-making resource for everyone, right from new investors, who are making their first investment, to more evolved investors, who are looking for a convenient and easy way to manage all their investments.
Commenting on the launch, Terence Lucien, Head of Mutual Funds and Gold at PhonePe, said, ''We launched Super Funds in May this year to assist investors who prefer a comprehensive solution fully managed by experts, however, the launch of these seven new curated sets of Mutual Fund categories will cater to the investors, who want greater flexibility and control in building their own investment portfolio.
''We are confident that our latest set of offerings will cater to the aspirations of every Indian by allowing them to grow their wealth and meet their financial aspirations,'' he added.
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