Investing in mutual funds is an excellent way to create wealth and achieve your financial goals. However, managing multiple mutual fund investments can be challenging and time-consuming, especially if you have invested in funds from different fund houses. But with the availability of online tools, you can now track all your mutual fund investments in one place. In this blog, we will discuss how you can track all mutual funds in one place in India.
- Start with creating an account on a mutual fund tracking website
There are several mutual fund tracking websites available in India, such as Moneycontrol, Groww, and ET Money. Choose a website that suits your needs and preferences and create an account.
- Add your mutual fund investments to your portfolio
Once you have created your account, you need to add your mutual fund investments to your portfolio. To do this, you will need to enter the name of the mutual fund and the number of units you own. You can also add the purchase date and price to get an accurate picture of your returns.
- Get a consolidated view of your investments
After adding your mutual fund investments, you can get a consolidated view of your portfolio. You can see the current value of your investments, the percentage change, and the absolute returns. This will give you an idea of how your mutual fund investments are performing overall.
- Set alerts for price changes
Mutual fund prices change daily, and it can be challenging to keep track of all the changes. However, most mutual fund tracking websites allow you to set alerts for price changes. You can set alerts for when the price of a mutual fund goes up or down, and this will help you make informed investment decisions.
- Analyze your portfolio
Mutual fund tracking websites also provide you with detailed analysis of your portfolio. You can see the sector-wise allocation of your investments, the top holdings, and the risk involved. This will help you make changes to your portfolio to achieve your financial goals.
- Make investments and redemption
Mutual fund tracking websites also allow you to make investments and redemptions directly from the platform. You can choose the mutual fund you want to invest in, the amount, and the mode of payment. Similarly, you can redeem your investments when you need the money.
Mutual funds are a popular investment option among retail investors as they offer a diversified portfolio, professional fund management, and higher returns compared to traditional investment avenues such as fixed deposits and savings accounts. However, managing multiple mutual fund investments can be challenging, as investors need to keep track of various funds’ performance, NAV (Net Asset Value), and other factors.
- Track mutual fund performance
Mutual fund tracking websites provide investors with the performance data of mutual funds. Investors can check the performance of their mutual funds on a daily, weekly, monthly, quarterly, and yearly basis. It helps investors analyze the fund’s performance over time and identify the best mutual funds to invest in.
- Compare mutual funds
Investors can compare mutual funds based on various parameters such as returns, expense ratio, risk, and fund manager’s performance. It helps investors to make an informed decision while selecting mutual funds to invest in.
- Set goals and track progress
Investors can set financial goals such as retirement planning, children’s education, or buying a house, and track their progress towards achieving these goals. It helps investors to make necessary changes to their investment strategy if they are not on track to achieve their goals.
- Keep track of expenses
Mutual fund tracking websites provide investors with detailed reports on expenses such as expense ratio, transaction charges, and exit loads. Investors can keep track of these expenses and make informed decisions while investing or redeeming their mutual fund investments.
- Stay updated with the latest news and trends
Mutual fund tracking websites provide investors with the latest news and trends in the mutual fund industry. It helps investors to stay updated with market developments, regulatory changes, and other factors that affect their mutual fund investments.
Conclusion:
Tracking all mutual funds in one place is essential for investors to manage their investments efficiently. By using a mutual fund tracking website, investors can get a consolidated view of their investments, analyze their portfolio, and make informed investment decisions. Additionally, investors can track mutual fund performance, compare mutual funds, set financial goals, keep track of expenses, and stay updated with the latest news and trends in the mutual fund industry. By following these steps, investors can achieve their financial goals and create wealth over the long term.
Read more useful content:
- How to invest in mutual funds
- Best Technology Mutual Funds
- All about mutual funds-types & importance
- The Power of SIP Investment in Mutual Funds
Frequently Asked Questions (FAQs)
What is a mutual fund tracking website?
A mutual fund tracking website is an online platform that allows investors to track all their mutual fund investments in one place. These websites provide a consolidated view of an investor’s portfolio and help investors analyze their investments’ performance.
Is it safe to use mutual fund tracking websites?
Yes, it is safe to use mutual fund tracking websites. Most of these websites use encryption technology to protect the investor’s data and provide a secure online environment to manage their investments.
Can I invest in mutual funds through a tracking website?
Yes, most mutual fund tracking websites provide the facility to invest in mutual funds directly from their platform. Investors can choose the mutual fund they want to invest in, the amount, and the mode of payment.
How can I track my mutual fund investments on a tracking website?
To track mutual fund investments on a tracking website, investors need to create an account and add their mutual fund investments to their portfolio. The website will then provide a consolidated view of the investor’s portfolio, and investors can track the performance of their mutual fund investments.
Can I track all my mutual fund investments in one place on a tracking website?
Yes, investors can track all their mutual fund investments in one place on a tracking website. These websites provide a consolidated view of an investor’s portfolio, and investors can analyze the performance of their investments.
How can I compare mutual funds on a tracking website?
Most mutual fund tracking websites provide a facility to compare mutual funds based on various parameters such as returns, expense ratio, risk, and fund manager’s performance. Investors can use this facility to compare mutual funds and make informed investment decisions.
Can I redeem my mutual fund investments through a tracking website?
Yes, most mutual fund tracking websites provide the facility to redeem mutual fund investments directly from their platform. Investors can choose the mutual fund they want to redeem, the number of units, and the mode of payment.
Is there any fee to use mutual fund tracking websites?
Most mutual fund tracking websites are free to use. However, some websites may charge a fee for value-added services such as personalized investment advice or expert analysis.
Can I set alerts for price changes on a tracking website?
Yes, most mutual fund tracking websites provide the facility to set alerts for price changes. Investors can set alerts for when the price of a mutual fund goes up or down, and this will help them make informed investment decisions.
Can I get expert advice on mutual funds on a tracking website?
Yes, most mutual fund tracking websites provide expert advice on mutual funds. Investors can seek advice from experienced professionals and make informed investment decisions based on their expertise.
