Paytm Money To Add Foreign Stock Investments

Paytm Money is about to venture into international stocks soon, with support for investments in the NYSE FANG+ Index, the company has hinted through an in-app teaser as well as a recent blog post. FANG is an acronym for Facebook, Amazon, Netflix, and Google, first coined in 2013 by CNBC host Jim Cramer. Extending on this, the NYSE FANG+ Index consists of Facebook, Amazon, Apple, Netflix, Google, Tesla, Twitter, NVIDIA, Alibaba, and Baidu stocks, considered to be ten of the world’s most influential publicly-traded next-generation tech companies.

Paytm said the NYSE FANG+ Index has outperformed other leading indices such as the S&P500, NASDAQ 100, and Nifty50 on a risk-adjusted and absolute return basis for the past seven years. The company, in the recent blog post, that the companies have a combined market cap of $7.7 Trillion as of February 2021, which is about 3X the market cap of all BSE listed companies.

Founded in September 2018, Paytm Money was launched as a mutual funds investment platform. Beyond mutual funds, it offers initial public offerings (IPO), exchange-traded fund trading, national pension system investments, and digital gold. The company also launched its stockbroking feature in September 2020, with the aim to onboard 10 Lakh investors.

The company claims to be one of the biggest platforms in terms of mutual funds trading with 7 Million users and 10 Million annual transactions. Paytm Money CEO Varun Sridhar said in January 2021 that the company added over 1 Lakh stock trading accounts in less than two quarters and registered 50K IPO requests in the last six months of 2020.

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