Investment platform Groww is piloting a feature called Groww Prime that helps users manage their mutual fund investments with research-backed recommendations.
The feature is intended to help investors make decisions on buying, holding, rebalancing, and exiting mutual funds with deep insights, personalised portfolio guidance, and round-the-clock chat support.
The initiative follows customer feedback collected through Groww’s internal ‘Feature Request Program’ wherein requests for personalised mutual fund recommendations accounted for about 45% of all mutual fund-related queries, the company said.
The pilot is aimed at understanding user needs and testing how additional research and technology can support long-term investing.
“Groww is a direct mutual fund platform built for DIY investors,” said Harsh Jain, Co-founder and Chief Operating Officer of Groww.
“Over the last few years, many of our customers have asked for features that can help them manage their mutual fund portfolios better, provide deeper research on schemes, and guide them in making important decisions. Groww Prime is a solution to this need. This will be an opt-in feature available with regular mutual funds,” elaborated Jain.
Groww Prime is supported by an in-house team of investment experts who use technology to assess fund performance, risk and suitability, the company said. Users will receive recommendations aligned with benchmarks, risk profiles, and investment horizons, including signals on when to exit funds, a capability, the company said, is often missing in retail investing.
Groww has been diversifying its business as it strives to offset a steady decline in active users on its brokerage platform, even as it remains India’s largest broker by trading volume.
Last week, State Street Investment Management said it would make a strategic minority investment in Groww Asset Management Ltd., valuing the mutual fund business at about Rs 2,500 crore, according to regulatory disclosures. The investment of up to Rs 580 crore comprises a secondary share purchase from Groww’s parent and a primary capital infusion into the asset manager.
The transaction will dilute up to 23% of Groww AMC’s fully diluted share capital and result in State Street holding less than 5% of the voting rights. Groww AMC will also cease to be a wholly owned subsidiary of Billionbrains Garage Ventures Ltd.
Groww entered the mutual fund business in 2023 after acquiring the asset manager from Indiabulls.