INSUBCONTINENT EXCLUSIVE:
New Delhi: ETMoney, the largest app-based seller of financial products, is offering 1.7 crore mutual fund investors the option to convert
their existing plans on its application, which it says will lead to savings on annual commissions they are currently paying.
The financial
products platform, which has over 40 lakh users and generated over 2 crore investment orders within barely two years of its launch, has
already converted mutual fund investments of Rs 150 crore for existing users into direct plans leading to savings, according to the
to customers for investing in mutual funds as opposed to regular plans where fees are charged for fund management services provided by the
mutual fund company as well as by the distributor from whom the mutual funds are purchased.
Kalra said ETMoney had generated five times the
existing investment orders and increased users substantially ever since it launched zerocommission mutual funds 30 days ago on its app after
entering into tie-ups with over 20 mutual fund companies.
The app offers a range of 1,000 mutual fund schemes that one can invest in without
paying commissions.
Kalra insisted that ETMoney was offering a one-stop-shop to all mutual fund investors to convert their investments into
