PhonePe, which had forayed into mutual fund distribution in 2019 with the launch of Tax Saving Funds, now offers a complete range of mutual fund products through its partnerships with more than 20 leading mutual fund companies in the country.
Here are some of the key features of investing in mutual funds on PhonePe
The Indian Mutual Fund industry has grown multifold in the last 10 years and is now managing assets worth over Rs 37 lakh crore.
The inherent benefits of mutual funds such as professional fund management, choice of schemes to suit different investing needs, transparency, robust regulations, low cost, high liquidity, etc make it an ideal investment avenue for individual investors. However, reaching the end customer had always been a key challenge due to limited distribution reach. It’s only in the past 5 years that mutual funds have started gaining huge popularity, thanks to the AMFI’s “Mutual Funds Sahi Hai Campaign” and the emergence of digital investment platforms.
PhonePe, which had forayed into mutual fund distribution in 2019 with the launch of Tax Saving Funds, now offers a complete range of mutual fund products through its partnerships with more than 20 leading mutual fund companies in the country. PhonePe has simplified the mutual fund investment process significantly and provided easy investment solutions to help investors make informed decisions. As a result, the platform has attracted investors from over 19,000 pin codes across India. The convenience of making investment decisions, getting actionable investment insights, transacting, and tracking investment portfolios has equally appealed to existing as well as first-time mutual fund investors. Interestingly, a large number of these investors are from tier 2 and tier 3 cities.
PhonePe makes Mutual Fund investments easier than ever!
Here are some of the key features of investing in mutual funds on PhonePe:-
Completely Paperless Investment Process: Physical documentation for various investment processes such as KYC, purchase, nomination, etc. has been one of the biggest barriers for individual investors to start their investments. When you invest in Mutual Funds on PhonePe, the entire investment process is completely paperless starting from your KYC to investing. With such a seamless investment process, investors can transact right from their phones in a matter of a few minutes.
Ease of Setting up SIPs: With more than 4.5 crore SIP accounts contributing over ₹10,500 crores every month, SIP is easily the most popular way of investing in the country, and rightly so as it is the best way for individual investors to build long-term wealth. However, setting up a SIP has traditionally been not only tedious but also time consuming. PhonePe, with the launch of India’s 1st UPI-based SIP, has made it extremely convenient to set up a SIP. With UPI SIP, an investor can complete the SIP registration process in just 5 seconds.
Easy access to high-quality investment insights: Most investors have limited access to information about mutual funds and often struggle to start their investment journey. PhonePe provides easy access to quality investment insights and various investment education resources such as simple-to-understand educational videos and short articles available to every investor. Now, even investors from smaller cities have the same access to information and resources as those from Tier 1 cities.
Assistance in selecting the right fund: The process of selecting the right fund can get quite overwhelming for individual investors considering the various choices available. PhonePe has built various features such as assisted investment widgets and curated lists of suggested funds with consistent performance across various mutual fund categories to help investors in the process of investing. With these features even a first time mutual fund investor can make an informed decision.
Complete Control of Investments: With PhonePe, investors can access their investments anytime and anywhere giving them complete control. This enables investors to execute their investment decisions at their convenience with just a few clicks. This can be particularly useful during a volatile market environment where investors want to capitalize on investing or portfolio rebalancing opportunities.
With such features and its comprehensive mutual fund offerings, PhonePe is clearly making inroads in the mutual fund distribution space and making mutual funds a household investment product in the country.
