A mutual fund can be described as an investment set-up that constitutes a pool of money collected from various investors with the aim of investing in securities such as stocks, bonds, and other assets. The management of mutual funds is in the hands of professional ‘money managers’ who distribute the fund’s investments and try to produce capital gains and/or income for the fund’s investors. The range of a mutual fund is structures and upheld to maintain the objectives of investment stated in its prospectus. Each shareholder participates equally in the losses and gains of the fund.
However, with the rise of technology and the ease-of-access to smartphones the ownership of investing in mutual funds is falling back into the absolute control of the investors. However, the corporations are moving in tandem with the evolving times and are working with technology to retain their investor base.
A lot of apps have come up that help a potential investor to select mutual fund, calculate SIP, and invest in stocks. These apps analyze the market in-depth, corroborate the report with expert advice, and thus help investors invest their money wisely. Let us take a look at top 5 apps that extend the services of Mutual Funds to its users.
Mutual Funds- A Service by IIFL
It’s a one-stop shop for investing in mutual funds smartly. The app helps to buy, sell, start SIP, and to track and monitor various mutual funds. Moreover, the app keeps you updates about the latest happenings in the market all the time, anywhere and provides valuable insight. The app is free and you can view the performance of mutual fund schemes, keep up with the latest news from the industry, and receive invaluable advice from the Fund Managers. IIFL customers enjoy the benefit of Instant Trading in the app. This easy-to-use app simplifies the trading and tracking of Mutual Funds.
The services of IPRU Touch can be utilized by investors and distributors both. This app allows the investor the liberty to invest in any ICICI Prudential Mutual Fund scheme. Access you account statements and capital gains with ease. Other simple actions such as updating mobile number, E-Mail ID, or password are task that can be completed with extreme ease.
InvesTap- SBI Mutual Funds
Through InvesTap you can browse through different mutual fund schemes. Decide and plan what your financial goal is going to be. The next step would be to register and start investing. The interactive user-interface of this app allows you to switch, redeem, or track performance of the Mutual Funds you have invested in. get real-time updates and notifications to keep track of fund NAVs. You can also reschedule your transactions.
FinGo by Birla SunLife MF
It allows the investors full transparency; you can view the account statements, invest with wisdom and transact, and calculate returns using the SIP Calculator. Read the current info on products from BSMLF and fund factsheets to gain a better understanding. Investors also hold the right to voice their queries and make service requests. In addition to this, gain access to information about NFOs by the company dividend, and NAV updates.
FundsIndia Mobile App
It allows you to participate in mutual funds and equities. Use your Aadhar number to invest in SIP and start trading instantly. The app provides you an option to receive investment recommendations, tailor-made for your goals. All this advice is doled out by the robo-advisor, Money Mitr.
Over to You
Technology is the future, apps based on Mutual Funds don’t just come in handy, and they are a portable world of share market in the upper pocket of your shirt.