Geojit Financial Services launches mobile app for mutual funds

Leveraging its dominance in online investments, financial services company Geojit Financial Services has introduced a mutual fund app that enables investors on board and start investing instantly.

Launching the app called Funds Genie here on Thursday, Aruna Sundararajan, chairman of Telecom Commission and secretary of department of telecommunications said mutual funds of the country are the fastest growing in the world.

"Mobile phones have become instruments of choice in the rapidly expanding internet economy. Mobile apps are the drivers of this growth,’’ she said.


The app provides a choice of 14000 plus mutual fund schemes and facilities like portfolio performance tracking, comprehensive reports and SIP calculators. It is also embedded with a robo advisory feature that allows the customers to do advanced goal planning and tracking and tax planning.

Sundararajan said the total mutual fund assets under management in India has grown to $ 300 billion. In the digital payment sector, the country is on course to reach $700 billion by 2022. "India is currently the highest consumer of mobile data ahead of China and the US,’’ she said.

Geojit managing director C J George said the comfort enjoyed by the new generation with the mobile applications and expert advice from the company based on the years of experience, the customer stands to win with the new app. Around 60 per cent of Geojit’s transactions are now online.

The app is available now in android platform and the iOS version is expected to be launched soon.

Geojit is the third largest non-banking SIP distributor in the country, according to Geojit executive director Satish Menon. "Out of 14200 MF schemes we recommend only 56 which goes on to show that we offer the best in the market,’’ he said.