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India's first online MF platform offering Direct Plans through Robo Advisory

by IBNS 26 Jan 2017, 05:30 pm

Kolkata, Jan 24 (IBNS): Moneyfront.in went live with its robo advisory mutual fund investment platform.

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.”