<p class="title">Digital investment platform Paytm Money expects its market share in direct mutual fund subscriptions to go up to 50 per cent in six months with a 'Switch' option that it plans to start in a fortnight, a top company official said.</p>.<p class="bodytext">Currently, its market share stands at around 40 per cent of total such subscriptions.</p>.<p class="bodytext">The company is planning to start 'Paytm Switch' option for mutual funds (MFs) in 10-15 days that will enable customers to switch from regular MF to direct MF, from banks, stock brokers, distributors and asset management companies to Paytm Money.</p>.<p class="bodytext">"Currently, we have 40 per cent of total direct mutual fund subscribed from our platform. With Paytm Switch, we expect it to go to 50 per cent in next 5-6 months," Pravin Jadhav, whole-time director at Paytm Money, told PTI.</p>.<p class="bodytext">He said regular MF, in which commission is charged by the seller, accounts for 85 per cent of total market share and direct MF is around 15 per cent.</p>.<p class="bodytext">"We expect direct MF share in the market to increase to 25 per cent in 2 years. In the direct MF segment, Paytm Money contribution will reach around 50 per cent in 5-6 months from 40 per cent at present," Jadhav said.</p>.<p class="bodytext">The company has started new fund offers (NFOs) of MFs. With this, the platform allows investments in NFOs from all 40 asset management companies (AMCs) in India.</p>.<p class="bodytext">"The mutual fund industry is expected to grow exponentially and double its size within the next 4-5 years. We expect a few new AMCs will be launched and also existing small- and mid-sized AMCs to offer new unique scheme offerings to fill the market gaps. Our NFO offering today on Paytm Money is a reflection of our positive outlook towards the industry," Jadhav said.</p>.<p class="bodytext">Within a year of its launch, Paytm Money claims to have acquired a user base of over 30 lakh. PTI PRS HRS</p>
<p class="title">Digital investment platform Paytm Money expects its market share in direct mutual fund subscriptions to go up to 50 per cent in six months with a 'Switch' option that it plans to start in a fortnight, a top company official said.</p>.<p class="bodytext">Currently, its market share stands at around 40 per cent of total such subscriptions.</p>.<p class="bodytext">The company is planning to start 'Paytm Switch' option for mutual funds (MFs) in 10-15 days that will enable customers to switch from regular MF to direct MF, from banks, stock brokers, distributors and asset management companies to Paytm Money.</p>.<p class="bodytext">"Currently, we have 40 per cent of total direct mutual fund subscribed from our platform. With Paytm Switch, we expect it to go to 50 per cent in next 5-6 months," Pravin Jadhav, whole-time director at Paytm Money, told PTI.</p>.<p class="bodytext">He said regular MF, in which commission is charged by the seller, accounts for 85 per cent of total market share and direct MF is around 15 per cent.</p>.<p class="bodytext">"We expect direct MF share in the market to increase to 25 per cent in 2 years. In the direct MF segment, Paytm Money contribution will reach around 50 per cent in 5-6 months from 40 per cent at present," Jadhav said.</p>.<p class="bodytext">The company has started new fund offers (NFOs) of MFs. With this, the platform allows investments in NFOs from all 40 asset management companies (AMCs) in India.</p>.<p class="bodytext">"The mutual fund industry is expected to grow exponentially and double its size within the next 4-5 years. We expect a few new AMCs will be launched and also existing small- and mid-sized AMCs to offer new unique scheme offerings to fill the market gaps. Our NFO offering today on Paytm Money is a reflection of our positive outlook towards the industry," Jadhav said.</p>.<p class="bodytext">Within a year of its launch, Paytm Money claims to have acquired a user base of over 30 lakh. PTI PRS HRS</p>