Mutual funds are a popular investment option that allows investors to take advantage of the potentially lucrative returns that the stock market can provide while also streamlining the investment process.

With mutual funds, investors don’t need to individually vet stocks but can rely on fund managers to make the best decisions on their behalf. Mutual funds are an ideal option for many investors seeking to access the equity market but with lower risk as compared to investing in direct equities. Investing in mutual funds is now available in the most sought-after way. However, investors are confused about how to buy mutual funds and whether investing in mutual funds online will be a wise choice.

Due to its capacity to provide hassle-free, time-saving, and cost-effective investment from the comfort of your home, investing in mutual funds online has gained substantial appeal. This provides investors with a huge convenience. Given the current market volatility, you should definitely consider including mutual funds with a long-term approach in your investment portfolio to produce superior risk-adjusted returns.

In contrast to conventional investments made through brokers or distributors, many investors increasingly prefer online investing platforms. The majority of investors, especially tech-savvy millennials and Gen Z investors, prefer direct investment in mutual funds through the websites of asset management companies or fund houses. To promote investment in mutual funds, a number of fund houses have released user-friendly smartphone applications. Via these investing apps or web portals, investors can buy, sell, switch schemes, and carry out numerous other investment-related actions.

Over the years, technology has increasingly simplified the process of investing in mutual funds, and it is now available at your fingertips. Investments in mutual funds can be made instantaneously using a variety of apps that place the entire market in your hands.

What are the benefits offered by mutual fund apps?

  • All under one roof: With mutual fund investment apps, you can use your smartphone to watch the market, look through countless possibilities, and invest. Also, you can link your bank account to start investing right now.

  • Ease of access: With mutual fund apps, you can start investing whenever and anywhere. Furthermore, investing in mutual funds through an app takes less time because the entire process is digital.

  • Convenience: Apps for investing in mutual funds are made to simplify the process. You can browse through many plans, evaluate their effectiveness, and pick the one that works best for you.

  • Paperless: You can upload scanned papers for KYC or other verification with most banks or AMCs. Your investment will be entirely paperless as a result.

  • Research-ready: Would you like to remain updated on the most recent news in finance? You can get daily news alerts, insights, and analysis from some of the top mutual fund applications. Do you frequently question which investment would be ideal for you? An excellent app will allow you to access all scheme-related data and make an educated decision.

One of the major benefits of purchasing mutual funds online is that the transaction is completed more quickly than it would be if done offline, which would take significantly longer.

Is it safe to invest through mutual fund apps?

Here is what you should know as an investor.

Well, it is certainly safe to invest in mutual funds through various investing applications. This is because an investor’s money cannot reside with these entities, nor can they keep the money with themselves. So, if your money is not invested on a particular day, these entities are mandated to refund the same back to the individual on the same day.

Additionally, these programmes use the most recent encryption and security technologies to thwart any possible criminals. With direct bank account-to-bank transactions, investors acquire ownership of mutual fund units. Because of this, the entire process of investing in mutual funds online through apps is created to guarantee the security of each transaction and investors’ money. The market regulator, the Securities and Exchange Board of India (SEBI), constantly monitors and reviews all transactions to guarantee no foul play.

Depending on an investor’s financial needs, they would want to invest in different mutual fund schemes. This requires the right app that is safe, easy to use, and cost-effective. With so many applications available to download these days, finding the right app for investing in mutual funds may be tough. That’s why we have put together a list of 5 mutual fund apps that investors can explore to begin their online investment in mutual funds.

An investor may choose to invest in several mutual fund schemes depending on their financial demands. This necessitates the usage of a suitable app that is affordable, user-friendly, and safe. Nowadays, there are a lot of programmes to choose from, making it challenging to discover the best app for mutual fund investing. For this reason, we have compiled a list of 5 mutual fund apps that investors may consider to begin their online investment in mutual funds.

1. Mutual Fund Utility (MFU)

MF Utility (MFU) is a cutting-edge ‘Shared Services’ initiative launched by the mutual fund sector under the direction of the Association of Mutual Funds in India (AMFI), which serves as a ‘Transaction Aggregation Portal’ to allow a mutual fund customer to transact in multiple schemes across mutual funds using a single form/payment.

It provides browser-based access to Mutual Fund’s customers, with connectivity to Registrars and Transfer Agents (RTA), Banks, Asset Management Companies (AMC), Payment Gateways (PG), and KYC Registration Agencies (KRAs) and enables online transaction submission in multiple schemes across Mutual Funds.

MF Utility (MFU) is operated by MF Utilities India Pvt Ltd. (MFUI), which is equally owned by the Participating AMCs. All schemes of these participating AMCs are available for transaction/investment under the MFU portal.

2. BSE StAR MF

BSE launched its BSE StAR MF platform on December 4, 2009, in the presence of Mr C B Bhave, SEBI Chairman. BSE Ltd. offers its platform to Mutual Fund Distributors (MFDs) to purchase and redeem mutual fund units on behalf of their clients.

For the aforesaid purpose, only a Mutual Fund Distributor registered with the Association of Mutual Funds in India (AMFI) and who has been permitted by the concerned recognised stock exchange should be eligible to use recognised stock exchanges’ infrastructure to purchase and redeem mutual fund units directly from Mutual Fund/Assets Management Companies.

The platform is packed with features and extremely flexible; it has connections to both CDSL and NSDL as depositories, the ability for clients to register once to avoid having to enter their information more than once for subsequent buy/sell requests, in-depth information that is simple to use about the various schemes being offered through the platform, and report management features. The BSE StAR MF is set up to accept both Physical and Demat applications.

3. MYCAMS Mutual Fund App

myCAMS is a web-based programme created by CAMS that allows investors to create a single login user ID using the CAMS website or through the mobile app version and then transact across all participating Mutual Funds using the single login.  myCAMS is available in two versions, i.e., Desktop & Mobile App. The desktop version of  myCAMS can be accessed through the CAMS website www.camsonline.com.

myCAMS brings digital convenience to manage your Mutual Fund investments. Enjoy one view of your portfolio across 16 Mutual Funds in multiple dimensions, transact to purchase, redeem or switch, open a new folio, subscribe to NFO, and start SIP in just 7 days with digiSIP.

4. KFinKart Mutual Fund App

The biggest registrar, transfer agent, and market leader in the financial industry for investor servicing is KFin Technologies Private Limited. It recently introduced KFinKart, your one-touch login that enables you to invest in a variety of mutual funds. Without using numerous applications, get a single view of your investments, manage your profile, make decisions, and transact right away. You can download the app through this link:

– Android – https://play.google.com/store/apps/details?id=com.karvy&hl=en_IN&gl=US

– iOS – https://apps.apple.com/us/app/kfinkart-investor-mutual-funds/id1421776822

5. MF Central

MFCentral is the investor services hub conceived by KFintech & CAMS, powering a new era of collaboration by providing convenience to transact across all folios of an investor with unparalleled user experience. Leveraging best-in-class technology, MFCentral brings ease, convenience and speed to your service requirements across all the Mutual Funds. You can access the same with this link: https://www.mfcentral.com/

This article first appeared on PersonalFN here


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