Latest Press Releases
Value Added Online Investment Platform "FundsIndia" Launched
Chennai, June 16, 2009: Wealth India Financial Services announced the launch of their new online value added financial services platform www.fundsindia.com earlier today. This unique platform will be used to deliver a wide variety of investment products and innovative services at a low cost to retail investors in India. To begin with, investors can register with the platform and invest in a variety of mutual funds.
FundsIndia will be the first online portal to focus exclusively on the medium-long term financial goals of Indian retail investors. While there are online banking services and share trading platforms available to the investor, there is a distinctly unmet need in the market for a personal investment platform. FundsIndia.com will address this need with an easy-to-use transactional platform delivering a bouquet of investor-friendly products and value-added services.
Also, FundsIndia will deliver these services at a cost lower than any other financial service provider in India. In the realm of mutual funds, as the financial community in India knows, SEBI is actively considering bringing about a variable commission regime for equity funds. As and when that materializes, FundsIndia will be the first platform to offer zero entry load access to the entire set of equity funds.
One-stop shop for investments
FundsIndia will offer investment products across the risk spectrum via its online platform. To begin with, it will offer the entire range of mutual funds - liquid, debt, balanced, equity and sectoral funds from various fund houses. Today, there are over 6 million retail mutual fund investors in India with an asset total of more than 1.75 lakh crores (according to latest such data from AMFI). This market is projected to grow at a CAGR of 17% over the next five years.
Soon, the platform will enable investments in the high side of the risk spectrum in the form of direct equity investments via a uniquely designed equity investment platform. Also, the platform will allow investors to invest in low-risk deposit products from top-rated corporate houses and other public debt-issuers.
Apart from these products providing full risk coverage for the investments of its customers, the platform will eventually also provide risk mitigation products in terms of both life and general insurance products including home, health, auto, and travel insurances.
FundsIndia will offer all these investment products along with a host of well-designed, value-adding services.
The company also plans to introduce more innovative services in the spheres of equity investments and deposits such as basket trading and interest rate change alerts.
FundsIndia will offer the convenient, 24x7 online platform together with its unrivalled set of services at a cost point unrivalled in the industry. Every product and service that the platform offers will be made available at the lowest cost to the investor. FundsIndia derives cost benefits by employing technology-leveraged, scalable online presence and these cost benefits will be effectively passed on to the investors.
Industry watchers expect SEBI to announce major changes in the manner funds are distributed to public, particularly relating to entry loads and variable commissions. When such a ruling is made, FundsIndia will be the first in India to offer ZERO ENTRY LOAD for equity fund investments to the customers of FundsIndia. Later, we plan to introduce the same low-cost structures to all our product offerings including equities and deposits.
FundsIndia has been promoted by Wealth India Financial Services, more specifically, two entrepreneurs with more than a decade of international financial service experience each.
Chockanath Chandrasekar has over 15 years of experience in financial services industry overseas. He has started successful enterprises both in India and abroad. He graduated from Virginia Tech in Blacksburg, Virginia, USA.
Srikanth Meenakshi has over 12 years of experience in financial services industry overseas. Graduating from Oregon Graduate Institute in Portland, Oregon, USA, Srikanth has experience building innovative retail financial services platforms using cutting edge technologies.