- E-wallet platform Maya has soft-launched a new in-app feature called Maya Mutual Funds, enabling users to invest with a minimum of ₱50.
- The feature is accessible to a limited number of users with upgraded Maya accounts and the latest app version, offering investments in 13 companies such as Google, Apple, and Tesla.
- Maya’s Head of Invest, Alvin Wong, quietly shared the announcement on LinkedIn.
E-wallet platform Maya recently had a soft launch of its new offering in-app investments. This new feature will allow users to invest for as low as ₱50.
Maya Mutual Funds in the Philippines
The feature is currently in soft launch, meaning it is available to a limited number of users. To access the feature, users must have an upgraded Maya account and be using the latest version of the app.
The app allows users to invest in 13 companies, including Google, ATRAM, ALFM, Apple, Tesla, Ayala Land, SM, and more.
The announcement was quietly posted by Alvin Wong, Maya’s Head of Invest, in his LinkedIn account.
“In soft launch mode for offering Mutual Funds within Maya enabling our users to select from 13 funds starting from as low as 50 pesos,” he posted.
What is a mutual fund?
Mutual funds are investment vehicles that pool money from many investors to create a fund that is managed by a professional fund manager. The fund manager invests this pooled money in a diversified portfolio of stocks, bonds, or other securities, with the goal of achieving specific financial objectives.
How to Access and Invest in Maya’s Mutual Funds
To create investment account:
- Open Maya and tap on the Funds Icon.
- Set up your investment profile–includes confirming citizenship, e-mail, networth, risk appetite, and more.
- Wait until the application is approved.
- Choose a fund that suits your profile.
- The user will have to subscribe to the selected fund. Read and understand the terms and agree.
- Input the amount to invest and proceed to subscription.
Recent Maya News: Crypto and Achievements
In June 2022, the firm introduced Maya Crypto, a platform that allows users to send and receive multiple cryptocurrencies. Though its partnership with Coinbase Institutional, which began in April 2022, allows Maya’s 50 million users to buy and sell cryptocurrencies directly.
Last April, Maya, along with its fintech rival GCash, secured the second and third positions on the LinkedIn list of the top 15 companies for launching and advancing careers.
This article is published on BitPinas: Fintech Firm Maya Quietly Introduces Mutual Funds to App
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.