Mercado Pago’s mutual fund – managed and protected by Bind – exceeded $60 billion invested and five million users since its creation, Four years ago. The tool platform allows users to invest their balances with a low level of risk and instant payout.
When the fund was launched in 2018, there were 376.865 Customer accounts throughout the country (less than 1% of the Argentine population). According to the consulting firm Invecq, which has analyzed the product developments, there are 580.687 Currently holders – although the data excludes account holders – in the virtual wallet. Mercado Fondo, for its part, reached 5,013,779 users, with an average investment of . is near $12,000.
“With this simple investment fund, accessible from any mobile device, multiply 13 by the number of people And traders who invest with this type of fund create a positive impact not only in terms of access to more sophisticated tools, but also in terms of education,” assures Alejandro Melheim, Vice President of Mercado Pago.
According to the project manager, The product is aimed at small traders and unbanked individuals, Those who find in Mercado Pago a digitization tool for their receipts and payments, and have the opportunity to build up their balances – not necessarily their savings – at Mercado Fondo. Admission on the total population In nine provinces, it is more than 10%.
It is not necessary to have a bank account to invest in the fund and received a nominal annual rate of the balance invested in the previous month 50.7%. The money invested generates returns reflected daily and always usable at any time, whether buying with a QR code, paying in a store with a Mercado Pago prepaid card, a bank or a digital account To transfer , recharge SUBE, pay for services, etc…
The fund’s returns fail to outpace inflation like most currently in the market, but they are an option to maintain Liquidity and immediate availability Money quickly and in the same daily operation application. A study by the consulting firm Invec analyzed the growth of the fund compared to other financial instruments.
If the user had invested $1,000 in August 2018, an investment fund would have generated $3,689 and Mercado Fondo in the same month of this year, $3578.
“The total amount managed in Mercado Fondo, which continues to grow, now represents 22% of the amount managed by traditional UCITS. Mostly, due to the addition of new users in the market,” he said. round santiagoDirector D Invec.
For its part, fasundo vazquezBind’s CEO said, “Financial innovation is the key to creating better products and services that always benefit the user. The strong adoption of Mercado Fondo reflects this: we see around 2 million transactions per day between redemptions and subscriptions. are processed, which represents a major operational and technical challenge.
In November 2021, the fund won first prize in the Digital Opportunity/Inclusion category awarded by the World Information Technology and Services Alliance (WITSA).