Zerodha is set to bring mutual fund investing directly to its popular Kite trading app, giving investors the option to manage stocks and mutual funds from a single platform. Neelesh Verma, who heads mutual funds at Zerodha, confirmed the plan to NDTV Profit.
The move addresses a long-standing quirk in Zerodha's app ecosystem. While investors can already view their mutual fund holdings on Kite, they are currently redirected to Coin when they want to make a purchase. That extra step is now set to go.
The company has also confirmed that Coin will continue operations as per usual, even after the change.
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Why Is Zerodha Making The Change?
Kite is the company's more widely used platform, with more than a crore downloads and over 65 lakh active investors, according to the information shared by the company. Coin, meanwhile, has more than 50 lakh downloads.
Zerodha has historically kept the two platforms separate: Kite for active investing and trading, and Coin for passive, long-term investments such as mutual funds, SIPs, NPS and fixed deposits. The shift could also help Zerodha deepen its mutual fund business. The company currently has more than 3 million mutual fund investors and 5.6 million SIP accounts.
The timing is also notable as Zerodha continues expanding its fund business. Its fund house recently launched the Zerodha Arbitrage Fund, an open-ended equity scheme designed to seek returns from price differences between cash and futures markets.
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