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Groww MF recently launched the Groww Nifty Total Market Index Fund. Notably, this is their first launch after the takeover of Indiabulls MF. This being India’s first multi cap index fund hints at the fund house’s quest for being innovative.
But as an MFD, what does this mean for you? Can you expect similar innovations from the fund house? And most importantly, should you look at partnering with the fund house? If yes, how will you stand to benefit from it?
To help you understand what business opportunities are in store for you, Cafemutual hosted Varun Gupta, CEO, Groww MF who in conversation with Nishant Patnaik, Associate Editor, Cafemutual addressed these and many such questions.
Here are the key highlights of the webinar.
Having a simple and clear philosophy of being innovative and tech-enabled
As an AMC, we hold the vision of creating long term wealth for investors by maintaining simplicity and transparency. We also strive to give all necessary support to our distribution partners to help them educate and simplify things for investors. At the same time, our focus is on introducing innovation either in products or its management along with being a tech-enabled AMC.
Rooting for a strong partnership with distributor partners
Before coming on board with Groww, I have been a MFD myself. This makes it easier for me to understand the kind of support they need and provide them with the necessary resources.
While Groww may be known as a facilitator of direct plans, that is a completely different vertical which simply caters to investors who are keen to do DIY investing. Having said that, we strongly believe that every investor needs financial guidance at some point in time and this is where the role of MFDs is crucial. Also, MFDs need not worry about client poaching as data confidentiality is of utmost importance and the fund house in no way gets in direct contact with investors.
As Groww AMC, we are in the process of creating a digital platform that will simplify backend operations for MFDs and save significant time which they can use to focus on other business activities. The platform will have a host of new-age features which will also integrate AI. MFDs can expect support across business functions like digital marketing, CRM, client on boarding, folio management, etc. Interestingly, we will provide bank verification through ‘penny drop and reverse penny drop’ where investors need not submit cancelled cheque. The verification gets completed simply by means of a Re 1 transaction.
With every innovation that the fund house launches, we will equip MFDs to create a smooth investing journey for investors.
Also, we value every distributor partner and strive to create a decent commission structure even in our passives offerings. MFDs can reach out to us to understand more about this in detail.
Making an innovative launch with Groww Nifty Total Market Index Fund
Groww Nifty Total Market Index Fund is India’s first multi cap index fund. With an exposure to 750 stocks, it reflects 96% of the equity market and is also a reflection of India’s growth story. Also with an exposure of close to 72% in the large cap space, the portfolio is likely to be comparatively less volatile. Moreover, it enjoys the upside potential with the presence of other small companies in the portfolio.
Thus, the fund is suitable for every investor who is keen to participate and tap opportunities in India’s growth journey.
Click here to watch the complete video.
