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Zerodha launches direct mutual fund platform 'Coin'




 Zerodha, India’s leading technology-driven brokerage firm, announced the launch of its direct mutual fund (MF) platform – Coin – here today.

  Coin is a platform that let the investor buy mutual funds online, completely commission-free, directly from asset management companies. The mutual fund bought through this platform will be in demat form, giving investors the convenience of one portfolio across equity, MF, bonds, etc., Karthik Rangappa, VP (Educational Services), Zerodha told media persons here today.

Zerodha will charge a flat subscription fee of Rs 50 per month, irrespective of the number or value of MF transactions. One can start, stop or modify SIPs anytime; and the first Rs 25,000 worth of investments would be free, he added.
 For an informed investor, buying mutual funds directly is the best option. SIP of Rs 5000 monthly invested for 25 years in direct vs distributor can potentially save Rs 28 lakh as commissions. Buying direct mutual fund in demat also gives the convenience of a single portfolio view,” said Zerodha Founder & CEO Nithin Kamath.
Zerodha also released Rupee Tales - a set of 5 story books which attempts to familiarise children above 7 years to basic financial concepts. The books, written by Rangappa and priced at Rs 470 per set, skim over concepts like Savings, Banking & Inflation, Taxes, Insurance, and Stock Markets, and also weave in ideas of responsibility and the need to save.
Zerodha has grown tremendously in the past one year, adding clients at a rate of 144% (FY 2016-17). Zerodha currently has a user base of over 2.86 lakh across India, including 5000 in Odisha. In Bhubaneswar, Zerodha has over 1000 clients and has grown at a rate of 170% for FY 2016-17.





Editorial

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From asking his party men to ‘live a simple life and serve the people’ to taunting the BJP for its ‘crocodile tears’, Chief Minister and BJD supremo Naveen Patnaik has not only become politically invincible, he seems to be so in the coming years too.

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