HDFC Securities has announced launched of HDFC Money--with an intent to facilitate mutual funds investment and a host of other financial services. HDFC Money is a 100 percent digital platform that doesn’t involve opening/having a Demat Account, it said in a press statement.
Apart from Mutual Funds, one can also manage other aspects of finances such as accessing, managing, and tracking portfolios, starting goal planning, insurance planning, creating E-wills, and managing/filing taxes, it said.
Emphasising the benefits of using HDFC Money to invest in Mutual Funds, Abhishek Mehrotra CFA, Head of Investment Products, HDFC Securities said, “Goal-based investing is something one can’t overlook, the basic objective of investing is to achieve a financial goal, which could be as simple as holiday trip to a complex retirement planning or child education / marriage.
"The Assets Under Management (AUM) of the Indian Mutual Fund Industry has grown from Rs 6.82 trillion as of November 30, 2011, to Rs 38.89 trillion as of April 30, 2022, which is a more than five-fold increase in 10 years. HDFC Money curates via Robo Advisory as per the declared risk profile of the customer. These eventually help the investor in navigating through their investment decisions. After all, there’s a huge difference between a planned investment which has defined objective than random investing.”