Stocks

Choice Broking launches web-app for online investments in MFs

Tanya Thomas Mumbai | Updated on January 12, 2018 Published on June 08, 2017

Stock broker Choice Broking has announced the launch of Investica, a web-app platform through which retail investors can invest in mutual funds. The platform is secured with the highest A+ SSL certification and also offers tailor-made thematic baskets of multiple schemes based on the investor’s goal and risk appetite, the company told BusinessLine.

“While the country has gone digital in terms of payment systems as also for stock market investments through online brokerages, the online investments into mutual fund scheme unfortunately has been lagging largely due to absence of secured options for online investments. We, at Choice Broking, have initiated Investica keeping the interest of the 5.28 crore individual investors of mutual fund schemes in mind as also to aid them in decision making with appropriate tools,” said Kamal Poddar, Managing Director, Choice Group.

“Amid the rapidly growing industry of mutual funds in India, retail investors accounted for 46.5 per cent of assets as of April 2017. Investica expects to capture 20 per cent distribution market share of this online individual investors’ pie in the coming three years primarily in the top-15 cities’ distribution segment. These 15 cities account for 64 per cent of the AUM i.e. assets under management invested by individual investors,”said Ajay Kejriwal, President, Choice Broking.

Investica will focus on brining 70 per cent of existing offline investors to the online medium by orienting them to track, review and improve their portfolios, switch their funds for better returns, seek better analytical performance recommendations from experts, etc.

Published on June 08, 2017
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