PhonePe, owned by Flipkart is one of the largest digital transactions startup of the country. It recently launched a funding solution addition, Super Fund to its platform. It will provide the users to invest across multiple top equity, gold and debt funds of different mutual fund companies. Super Fund is launched after partnering with Aditya Birla Sun Life Mutual Fund (ABSLMF).
The users can use their PhonePe account to use this service directly under My Money section. They can do a one-time investment and select the kind of investment they are interested in. Super Fund identifies the top funds and invests in them across various categories and Asset Management Companies (AMCs). It provides them the space to choose between three options based on the user’s investment style and risk management- Aggressive, Moderate and Conservative.
The aggressive options provide high amount of equity funds while the conservative provides high proportion of debt funds. Moderate as the name suggests has right amounts of all three- equity, gold and debt. The user just has to decide the right funds for themselves and rest will be taken care of by ABSLMF’s expert fund managers. They will keep a check on their investment and make a change based on the market realities. This will be an easy way to make money for the users without putting a lot of thought into investment banking.
PhonePe has been in the financial services business since 2017 has launched multiple mutual funds and insurance financial products like tax-saving funds, international travel insurance and liquid funds. The Super Fund service can be availed from as low as Rs 500 which makes it more accessible for users.