Birla Sun Life Mutual Fund Active Account receives over 4 Lakh downloads

Mumbai, January 16, 2017: Birla Sun Life Mutual Fund Active Account – a Liquid Fund based mobile application has received more than 4,25,000 downloads in over two months of its release. Launched by Birla Sun Life Asset Management Company Limited, a part of Aditya Birla Financial Services Group and investment manager for Birla Sun Life Mutual Fund ("BSLMF"), BSLMF Active Account is a smart investment option which provides users a vehicle to help activate their savings to earn potential returns while maintaining the convenience of liquidity.

"We are delighted with the response BSLMF Active Account has received from investors. Till date, BSLMF Active Account witnessed transactions numbers¹ in excess of 15,000¹ valuing close to Rs. 25 crs¹. A study of usage trends showed us that the App is popular across age groups, but more so in the 55-59 year age bracket. This is for us a great testimonial to the simplicity of the App, and how easy it is to use." said A. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited.

Developed to offer users convenience and ease of use, BSLMF Active Account has already added close to 12,000 users¹ of which nearly 5700¹ are new to mutual funds, and nearly 6000¹ are new to BSLMF. From launch till January 15, 2017, new user registrations¹ on the App grew by 39%, while purchase count¹ grew by 227%.

Commenting on usage A. Balasubramanian added, "The demonetisation drive has given strong impetus to the mutual fund industry which is witnessing a surge in retail interest. Our App has not only helped add to the industry customer base, but has brought in significant AUM into the financial market. To help strengthen usage further, we plan to introduce more funds in this App so as to offer users the opportunity to select a fund of their choice."

BSLMF Active Account provides users to invest their surplus savings into Birla Sun Life Cash Plus to help earn reasonable returns with convenience of liquidity over short term. The mobile application offers users two key transactions, each executed with a simple swipe option on the mobile phone through the App. The launch of BSLMF Active Account was supported by a high visibility marketing campaign. The TVC challenged the investment habits of Indians who keep majority of their hard-earned money in low-yielding vehicles, urging them to make the right investment choices. BSLMF Active Account helps consumers use the power of technology to activate their idle money with a single swipe.

Birla Sun Life Mutual Fund is ceaselessly working to enhance the appeal of mutual funds across a wider set of users, and non-users across India. Part of this effort includes introducing smart solutions, user-friendly services and facilities as well as mobile applications which simplify mutual fund processes with digitization for both – investors as well as distribution partners. In its endeavour to introduce technological innovations across various processes to ensure increased convenience, engagements and efficiency, BSLMF launched FinGo and FinGo Partner mobile applications for customers and distributor partners respectively.

BSLMF Active Account is available for download for Android, and iOS.