Noida: To facilitate individual investors to seamlessly deploy their savings into mutual fund schemes online, Choice Broking has launched ‘Investica’, a web-app platform that is not only secured with the highest A+ SSL certification but also offers tailor-made thematic baskets of multiple schemes based on an investor’s goal, financial objective & risk appetite, it said in a press release here.
“While the country has gone digital in terms of payment systems as also for stock market investments through online brokerages, the online investments into mutual fund schemes unfortunately has been lagging largely due to the absence of secured options for online investments. We, at Choice Broking, have initiated Investica keeping the interest of the 5.28 crore individual investors of mutual fund schemes in mind as also to aid them in decision making with appropriate tools,” said Kamal Poddar, managing director of Choice Group.
As of April 2017, mutual fund investments are estimated at Rs 19.11 trillion, of which individual investors hold Rs 8.89 trillion. In the past two years, it has caught the investors’ fancy with number of accounts rising from 3.95 crore in September 2014 to 5.61 crore accounts in April 2017.
“Amid the rapidly-growing industry of mutual funds in India, the individual investors accounted for a whopping 46.5% of the industry’s assets as of April 2017. Investica expects to capture 20% distribution market share of this online individual investors’ pie in the coming 3 years, primarily in the top-15 cities’ distribution segment. These 15 cities account for 64% of the AUM i.e. assets under management, invested by individual investors and step up the game in the next 15 cities that account for 23% share in the next phase,” said Ajay Kejriwal, president of Choice Broking.
Kejriwal also expects consolidation in the online space for mutual fund investments with some far and few existing portals integrating with Investica based on the business volume, domain expertise and the ability to fund this initiative in the near term.
Powered by the investment domain expertise of Choice Broking, this web-app platform will focus on converting 70% of the existing offline investors to online medium by orienting them to track, review & improve their portfolios, switch their funds for better returns, seek better analytical performance recommendations from experts, etc.