ET Money's retail mutual fund AUM crosses $4-b mark

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New Delhi: ET Money has crossed $4 billion in mutual fund assets under management (AUM) for retail investors, the company stated in a release.

The company that ranks amongst the largest wealth tech startups said it saw AUM growth of 48% between July 2021 and July 2022. The mutual fund industry’s AUM grew 6.9% during the same period.

“$4 billion is a strong vote of confidence by users on our approach to unbiased, commission-free investing. India is in the very early stages of financialisation of savings and we clearly see headroom to reach $20 billion sooner than we imagined,” ET Money CEO, Mukesh Kalra said.

The average systematic investment plans (SIP) on ET Money has also grown by 8%, while the same for the industry has fallen by 6%. ET Money has also seen a growth in its monthly SIP book to ₹275 crore. The platform now processes more than 1.2 million transactions every month.

The company recently launched ET Money Genius, a unique paid membership service that provides personalised asset allocation-based investment strategies across stocks and mutual funds. By applying the principles of a diversified portfolio and regular profit booking and loss minimisation via intelligent monthly rebalancing, these strategies have proven to fall less during market downturns and earn higher returns than respective benchmarks during upswings, according to the company’s statement.

“With the recent volatility in the stock market, retail investors in the country now realise that chasing multi-bagger tips or crypto won’t help them earn long-term returns,” Kalra said. “There is a strong emerging need for data-led, unbiased & zero-commission-based advice. ET Money Genius is aimed at serving this need at a fraction of the cost using a tech-first approach,” he said.

ET Money is backed by Times Internet, a subsidiary of BCCL, which is the publisher of The Economic Times.

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