Asset management company, DSP BlackRock, has launched IFAXpress, an online platform to buy and manage mutual funds and investment portfolios for investment managers and financial advisors. IFAXpress can be accessed through the desktop, tablets and smartphones, according to the company’s Assistant Vice President, Sudip Kumar Mandal.

To utilize the paperless transaction facility, the financial advisors must be Know Your Customer (KYC)-compliant.

Mandal also said that mutual fund sector in India has grown by 20 percent year-on-year and now valued at Rs.12 lakh crores. Currently there are 55,000 advisors, of whom 22,500 are empanelled in his company.