Tech to Revamp Mutual Fund Bets

Like banking and insurance, technology has also transformed how one invests in mutual funds. A host of digital investment platforms now offer simple, paperless and zero-fee direct investments in mutual funds through their website and app. These platforms also leverage technology and data analytics to provide goal-based investments for their clients. No wonder these are a hit with the young generation of investors, mostly in their early 30s who want to invest their surplus incomes to meet their financial goals. “Our demographic age group target is from 27–35 who belong to the salaried class.  50 per cent of our customers belong to the top eight cities while the remaining 50 per cent come from a long tail of 800 cities”, says Subramanya S V , Founder of Fisdom, a mutual fund investment app. At FinEdge, yet another similar platform, a large majority of their clients...