26 Jan 2017, 05:41 pm
This is one of the country’s first paperless investment destination, where only direct plans are at play ensuring higher returns.
It is a platform targeted at astute investors, who want to save on third party commissions on their financial products and services.
With over 1.5 crore investors and 5 crores folios in Mutual Funds, the total industry AUM comes up to a collective of 16 lac crores. Out of which investment through direct plans stand at around 6 lac crores only.
Mohit Gang, Co-founder and CEO, Moneyfront.in said, “We see a need and potential in the market place for a reliable and a fully automated advisory platform dedicated to investors who want to invest in mutual funds directly without going through a middle man. We want to create investor awareness and at the same time expand this direct plan investment route which is currently at 6 lac crores. Our focus markets at present are Delhi, Mumbai, Bangalore, Chennai and Kolkata. We will be looking at newer regions in the upcoming quarters.”
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