Thursday, April 5, 2018

Paytm Going To Come With New Mutual Fund App

Paytm is going to be the biggest mutual fund distribution business by the end of April with the launch of a mutual fund app.
Paytm had got an approval from Securities and Exchange Board of India (SEBI) earlier in March, under the name ‘Paytm Money Limited’. 
  1. A separate App to buy Mutual Funds
  2. Only direct plans, no distributor commission embedded
  3. Schemes from top 12 fund houses by April end
  4. 25 Fund houses by August
Its new Android and iOS apps will offer investors mutual funds from 12 of the 15 largest asset management companies in the first phase. By August, it aims to increase that to around 25 fund houses.

Industry experts say Paytm will help expand the market for the mutual funds industry.

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