Monday, September 28, 2020

PhonePe Deepens its Foray into Mutual Funds with the Launch of 7 New Categories

* The new launch to give more flexibility and control to investors

* Users can choose between building their own mutual fund portfolio or getting a comprehensive solution via Super Funds

PhonePe, India’s leading digital payments platform, today 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 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 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, Terence Lucien, Head of Mutual Funds & Gold at PhonePe, 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.”

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