PhonePe Launches Super Fund

PhonePe, India’s digital payments platform, today announced the launch of Super Funds, a comprehensive solution that invests across multiple top equities, gold and debt funds of different mutual fund companies to help investors create long-term wealth in a safer way. PhonePe has partnered with Aditya Birla Sun Life Mutual Fund (ABSLMF), to launch this product.

The Super Fund is powered by Aditya Birla Sun Life Financial Planning Fund of Funds (FoF) that identifies and invests in top funds across various categories and asset management companies (AMCs). The Fund also allows users flexibility to choose between the three options – Aggressive, Moderate and Conservative - based on the user’s investment style and risk comfort.

For example, if a user is an aggressive investor, he/she can choose the Aggressive option which has a higher proportion of equity funds. If the user is a conservative investor, he/she can choose the Conservative option with a higher proportion of debt funds. If the user is a moderate investor, he/she can opt for the Moderate option with the right mix of equity, gold and debt. As an investor, users just need to decide the right Fund for them and leave the rest to ABSLMF’s expert fund managers, who will continuously monitor their investment and keep making changes if the market changes or if the performance of the underlying funds and AMCs change. All of this can be done by investing in one or more of the Funds, giving users the ultimate flexibility and convenience.

To invest in this solution, PhonePe users need to follow a few simple steps. They need to log in to the PhonePe app and go to the “My Money” section and tap on Super Funds. They can then select the desired option based on their investment style and enter the amount to complete the one-time investment account set up. Users can begin investing with as little as Rs 500 and pay from their bank account using UPI.

Speaking on the launch, Terence Lucien, Head of Mutual Funds, PhonePe said, “We are excited to launch this first-of-its-kind comprehensive investment solution in partnership with Aditya Birla Sun Life Mutual Fund. Super Funds will help our 200+ million users create wealth in a simpler and safer way as all the complex investment decisions of finding the right balance between equity, gold and debt; selecting the top funds from over 1,000 options; and continuously reviewing and rebalancing the investments to suit market conditions will be managed by expert Fund Managers. We will continue adding more such solutions to help our users manage their money and fulfill their life’s aspirations in a better way.”

Commenting on the association, A Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited said, "We are constantly working towards offering investors solutions that meet their financial needs. We are confident that the strong reach and accessibility of PhonePe, coupled with Aditya Birla Sun Life Mutual Fund’s expertise will further mutual fund adoption in India. Customer focus and product leadership are the key values that create a more common thread between us and we look forward to sustaining this trust while building value for our customers.”