PhonePe launches India’s first Super Fund, a unique investment solution driving long-term wealth creation

  • Super Funds is powered by Aditya Birla Sun Life Mutual Fund 

    India’s leading digital payments platform, today announced the launch of Super Funds, a unique and comprehensive solution that invests across multiple top equity, 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), one of the leading investment managers in India to launch this unique 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 unique solution, PhonePe users need to follow a few simple steps. They need to log in to the PhonePe app (on Android & iOS) 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 INR 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, “As one of India’s leading Mutual Funds, 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.”

    About PhonePe:

    PhonePe is India’s leading digital payments platform with over 200 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. PhonePe forayed into financial services in 2017 with the launch of digital gold providing users a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched Mutual fund and Insurance platforms offering financial products like tax-saving funds, liquid funds, international travel insurance and Corona Care, a dedicated insurance product for the COVID-19 pandemic. PhonePe is accepted at over 10 million merchant outlets across 400 cities nationally. PhonePe also launched its Switch platform in 2018, and today its customers can place orders on over 100 apps including Ola, Myntra, IRCTC, Goibibo, redBus, Oyo etc. directly from within the PhonePe mobile app. For more details, please visit https://www.phonepe.com or download the PhonePe app.