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PhonePe, a digital payments platform, today announced the launch of seven new mutual fund (MF) categories for customers to invest in.
The categories include 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 portfolios.
PhonePe claimed that the user experience is simple with educational tips all along the investment journey to help customers make the right investing decisions.
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The Investing section on the PhonePe app provides detailed information on every MF. It also provides information on both new investors who are making their first investment and more evolved investors who are looking for a convenient way to manage all their investments.
Commenting on the launch, Terence Lucien, Head of Mutual Funds & Gold at PhonePe, said in an official statement: “At PhonePe, we have always focused on introducing use case-driven products to help our customers achieve their financial goals.”
He added: “We launched Super Funds in May this year to assist investors who prefer a comprehensive solution, fully managed by experts. The launch of these seven new curated sets of mutual fund categories will cater to investors who want greater flexibility and control in building their own investment portfolios.”
He believes that PhonePe’s latest set of offerings will assist people in growing their wealth and meet their financial aspirations.
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