Walmart-owned digital payments firm PhonePe said it has launched Super Funds, which will help investors identifying top equity, gold and debt funds of mutual fund companies. PhonePe has partnered with Aditya Birla Sun Life Mutual Fund (ABSLMF), one of the leading investment managers in India to launch this product.
The Super Fund identifies and invests in top funds across various categories and asset management companies (AMCs). It also allows users flexibility to choose between the three options – aggressive, moderate and conservative - based on the user’s investment style and risk comfort.
“Super Funds will help our 200 million users create wealth in a simpler and safer way as all the complex investment decisions of finding the right balance between equity, gold and debt; selecting the top funds from over 1,000 options,” said Terence Lucien,
Head of Mutual Funds, PhonePe.
As an investor, users need to decide the right Fund for them and ABSLMF’s expert fund managers will do the rest. They would continuously monitor their investment and keep making changes if the market changes or if the performance of the underlying funds and AMCs change. To invest, PhonePe users need to log into the PhonePe app and go to the “My Money” section and tap on Super Funds.
“We are confident that the strong reach and accessibility of PhonePe, coupled with Aditya Birla Sun Life Mutual Fund’s expertise will further mutual fund adoption in India,” said A. Balasubramanian, MD and CEO, Aditya Birla Sun Life AMC Limited.