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Business News » Personal Finance News

Mutual Funds Alert: Paytm Money enters an agreement with Morningstar to offer investment portfolios to customers

Paytm Money's new portfolios ‘Morningstar Investment Packs’ aims at first-time investors; to help them achieve long-term financial goals.

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Mutual Funds Alert: Paytm Money enters an agreement with Morningstar to offer investment portfolios to customers
Paytm Money has entered into an agreement with Morningstar Investment Adviser India, which is part of Morningstar Inc, a renowned global financial services firm. Photo: PTI
Written By: Asit Manohar
Updated: Thu, Jun 27, 2019
04:09 pm
New Delhi, ZeeBiz WebDesk
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India’s largest online platform for mutual fund investment Paytm Money on June 27th announced the launch of ‘Morningstar Investment Packs’ exclusively on its online platform. Paytm Money has entered into an agreement with Morningstar Investment Adviser India, which is part of Morningstar Inc, a renowned global financial services firm, to offer investment portfolios to customers on the former’s platform. Investors can visit the Paytm Money app to access Morningstar Investment Packs. Morningstar has incorporated its globally recognized asset allocation and fund selection expertise in creating these Investment Packs, which aim to help investors achieve their long-term financial goals.

Speaking on the agreement Paytm Money Whole-time Director, Pravin Jadhav, said, “We are happy to introduce Morningstar Investment Packs to our users. Morningstar’s investment and financial expertise, which is known globally, will benefit millions of Indians and help them make informed investment decisions. Morningstar’s proficiency, combined with the simplicity and ease of our app, is the perfect blend for our existing and new investors.”

Aditya Agarwal, MD and Country Head for Morningstar in India, said, “We are delighted to associate with Paytm Money and offer our expertise in asset allocation and fund selection to their investors. Over the last couple of years, the Indian mutual fund industry has witnessed significant growth. We hope to encourage more and more retail investors to invest in mutual funds, and help them meet their investment goals.” 

Morningstar Investment Packs comprise five mutual fund portfolios, each supported by Paytm Money’s risk suitability assessment. Based on their individual risk profiles, investors will be recommended appropriate investment packs on Paytm Money. The investment packs are aimed at investors with Low Risk, Conservative, Moderate, Growth and Aggressive risk appetites — each pack consisting of three to five Morningstar Analyst Rated funds. Paytm Money will provide investors with the option of investing through SIP or lump sum mode. Morningstar will periodically monitor and review the chosen packs.

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