KPMF, Satyam announce country’s first internet mutual fund

Speaking on the necessity of bringing in this facility, Reddy said arrangement of this sort had become necessary in view of increasing customer pressure faced by the the mutual funds sector in the country.

He said the venture was floated after the huge success of the Kothari Pioneer Infotech Fund and would help investors put their funds in the fast-growing Internet fund.

The facility would be basically operated on customer acquisition, data base management for saving time and finally, payment arrangement with the banks, R Ramaraj of Satyam Infoway said while addressing reporters here.

Stating that there were about three million Internet users in the country, Ramraj said the facility would help reach to more customers as E-commerce in India was poised to grow by leaps and bounds, compared to other countries.