Mumbai, Maharashtra, India | 22nd January 2020: India’s fastest growing online investment advisory platform Kuvera, today announced the addition of ‘Digital Gold’ and ‘Digital Gold SIP’ – a convenient, secure and practical approach to diversifying one’s investments by including gold as part of the portfolio.
Digital gold purchased through Kuvera is backed by 24K 99.9% pure gold. Kuvera has tied up with Augmont, India’s leading gold platform to bring this service to its clients. Physical gold is stored in secure Brinks vaults and are monitored by an independent third party. Liquidation is easy and available at the click of a button. Gold balance can be sold partially or in whole almost immediately and at the then market price. The sale amount gets deposited electronically into the investor’s bank account making it completely digital and completely secure.
Gaurav Rastogi, CEO of Kuvera said, “Gold is unique among commodities due to its traditional role as a safe-haven and ‘store’ of value. Gold returns have low correlation to equity returns especially during adversity. Through Digital Gold, Kuvera helps users to bridge the gap of owning gold and safekeeping physical gold; while ensuring quick liquidity, transparency and ease of transactions. Similarly, with Digital Gold SIP we want to make accumulation of gold over time as easy as mutual fund units. We are constantly in the process of reimagining investment opportunities for our discerning users and believe this is another step towards portfolio diversification.”
Kuvera was founded in 2016 as India’s first ‘free-to-use’ web-based direct mutual fund investment platform. It provides more than 5 lakh investors with access to a range of innovative investment tools designed to help them save and reach their financial goals and has almost INR 7,000 crores mutual fund assets under advice.
Kuvera is also the first platform that enabled users to easily switch from regular mutual funds to direct mutual funds, lowering the cost of investing. Innovative features such as family login, mutual fund portfolio consolidation make Kuvera relevant for both advanced users and first timers.
