Chennai, NFAPost: Digital payments platform PhonePe has announced the launch of 7
new mutual fund categories for customers to invest in.
This, along with Super Funds launched in May ’20 and Liquid Funds launched in Jan’20 will offer a rich and comprehensive set of investment choices to over 230 million registered PhonePe users.
Users 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 9 categories.
The categories are Large cap, Mid and Small cap, Diversified Funds, Index Funds, Hybrid – Aggressive & Dynamic Asset Allocation, Debt, Liquid and Tax Saving Funds.
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.
In true PhonePe tradition, the user experience is extremely simple and intuitive with helpful educational tips all along the investment journey to help customers make the right investing decisions.
The Investing section on the 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, PhonePe Head of Mutual Funds & Gold Terence Lucien said, “At PhonePe, we have always focused on introducing use case driven products to help our customers achieve their financial goals. We launched Super Funds in May this year to assist investors who prefer a comprehensive solution fully managed by experts.”
“The launch of these 7 new curated sets of Mutual Fund categories will cater to 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.
PhonePe has over 230 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. PhonePe forayed into financial services in 2017 with the launch of digital gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform.
PhonePe has since launched Mutual funds and Insurance financial products like tax-
saving funds, liquid funds, international travel insurance and Corona Care, a dedicated insurance product for the COVID-19 pandemic. PhonePe also launched its Switch platform in 2018, and today its customers can place orders on over 200 apps including Ola, Myntra, IRCTC, Goibibo, RedBus, Oyo etc. directly from within the PhonePe mobile app. PhonePe is accepted at over 12 million merchant outlets across 500 cities nationally.