Flipkart backed digital payment service provider and mutual fund distribution firm PhonePe has launched a fund of funds (FOF) like solution called ‘Super Funds’ for investors. Through this, investors can invest in multiple schemes across fund houses through a single cheque or investment, said a company press release.
The online distributor would pick a set of MF schemes across fund houses depending on the risk appetite of investors. The company offers three options – conservative, moderate and aggressive FOFs to investors.
Further, the company said, “Super Funds have redefined the ‘affordability’ benchmark in mutual funds as investors now can invest in a solid portfolio of mutual funds schemes with as little as R. 500. Thus even a small investor will now have access to a superior long-term investment solution. Further, the FOF is ideal for long-term investment of over 3 years.”
