Bots will guide you in your mutual fund investments.
Like banking and insurance, technology has also transformed how one invests in mutual funds. A host of digital investment platforms now offer simple, paperless and zerofee direct investments in mutual funds through their website and app. These platforms also leverage technology and data analytics to provide goal-based investments for their clients. No wonder these are a hit with the young generation of investors, mostly in their early 30s who want to invest their surplus incomes to meet their financial goals. “Our demographic age group target is from 27–35 who belong to the salaried class. 50 per cent of our customers belong to the top eight cities while the remaining 50 per cent come from a long tail of 800 cities”, says Subramanya S V , Founder of Fisdom, a mutual fund investment app.
At FinEdge, yet another similar platform, a large majority of their clients are those who invest between Rs 15,000–25,000 a month towards their important financial goals. There are certain clients who start their investments with as little as Rs. 1,000 a month while some invest up to Rs. 10 lakh a month. “Our target user base is what we call ‘rich millennials’ - users in age group of 25 to 35 with investable income. That includes users who want to give mutual funds a try with very small amounts”, says Lalit Keshre, Co-founder and CEO, Groww.
While some of these are dedicated mutual fund investing platforms, others provide comprehensive financial services that include mutual fund investments. Here are a few salient features of these platforms.
Paperless investing
Diese Geschichte stammt aus der September 2018-Ausgabe von Outlook Money.
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Diese Geschichte stammt aus der September 2018-Ausgabe von Outlook Money.
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