The mutual fund distribution will be done through Paytm Money, the new wealth management unit of One97 Communications, which also owns Paytm, Paytm Mall and Paytm Payments Bank. Photo: Hemant Mishra/MintMumbai: This could be the Jio moment for India’s Rs22 trillion mutual funds industry. Its new Android and iOS apps will offer investors mutual funds from 12 of the 15 largest asset management companies in the first phase. Paytm aims to emulate the success of Reliance Jio, whose entry shook up India’s telecom market, in the mutual fund distribution business. Industry experts say Paytm will help expand the market for the mutual funds industry.

Source: Mint April 05, 2018 01:52 UTC