CAMS has today announced that its mutual fund app myCAMS has 20 lakh registered users. The app has added 10 lakh investors in the last 12 months.
In a press release, the company said, “Transactions through digital channel in the mutual fund industry has been rising at a rapid pace and digital adoption is not restricted to metros. myCAMS has seen high level adoption from investors across Tier 2 and 3 locations, with these locations contributing to nearly 50% of registrations. Of the 2 million registered investors, nearly 65% are investors with distributors leveraging the application for transactions and portfolio view.”
Speaking on this achievement, Anuj Kumar, President and CEO - Asset Management Services, CAMS, said, “We are excited to see myCAMS scale up to serve 2 million investors. The large user base underscores the changing behaviour of investors seeking digital convenience. The application serves 5 million folios and Rs 2.5 lakh crore assets across these 2 million registered users and has a high engagement index for transactions and portfolio review. SIP registration and new investors are also on the rise on the back of facilities such as eKYC and eMandate.”
Investors can view their portfolio, invest, track, manage investments across 17 participating mutual funds through the app.
