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Last Updated : Feb 20, 2019 09:53 AM IST | Source:

Invest in mutual funds with Moneycontrol Transact

The app is currently available for users on both Android and iOS platforms

Moneycontrol News @moneycontrolcom

Moneycontrol has launched its brand new mutual funds investment platform, 'Moneycontrol Transact' on Android and iOS app stores. It is an end-to-end solution for MF investors, who can not only research and learn about mutual funds, but also invest in mutual funds in a few easy steps, all completed online.

One can download the Moneycontrol Transact app on Google play store and Apple App store.

Continuing with the core Moneycontrol proposition, this app focuses on helping users with which funds to invest in and then allowing them to complete the transaction on their phones. Moneycontrol Transact has personalised recommendation feature that recommends suitable mutual funds to users based on multiple parameters.

Various user-selected parameters, including how much the user wants to invest, what is the investment horizon, current financial condition and responsibilities of the user, investor’s age and willingness to take risks, are considered by the app while giving custom recommendations.

Personalised recommendations are powered by CRISIL Research, an expert in this domain. For time-starved users, there are also curated options to directly navigate to the top performing funds to buy across various categories. The curated list of funds from 39 fund houses are available for users to select based on their preferred asset class, time horizon and investment focus (e.g. sector). All these features come free of cost to the users.

For a generation that is digital-savvy, Moneycontrol Transact focuses on ease of use by making registration and investment completely online and inside the app. Users can start investing without worrying about submitting any physical paperwork.

Any investment made can be tracked 24x7 and investors can also view a detailed analysis of their portfolio that caters to a wide breadth of users—from new ones to experts. Not only can users check how much profit/loss have been made, they can also make informed decisions about selling their mutual funds by optimizing charges and taxes to maximize their returns.

Advanced users will also like to explore the detailed analysis of what their mutual funds have done with their money e.g. which stock, which sector their money is invested in and this will be an aggregate view across different holdings.

At the launch, Gautam Shelar, Business Head for Moneycontrol, said: “We have launched the initial version of Transact app based on extensive user research and feedback from Moneycontrol user community. We have also tied up with CRISIL, an industry stalwart for this initiative. With this, we will further diversify our business from an ad-driven model, following up on the earlier launch of our premium paid offering, Moneycontrol Plus."

"We are looking to tap the cross-section of millions of mutual fund investors in India, a large part of who are already loyal Moneycontrol users. We have been pioneers in providing best-in-class information to our users and now, the information can be combined with recommendations and ability to execute the transactions seamlessly on Moneycontrol,” he added.

Avinash Mudaliar, Chief product officer of Network18 introduced the Transact app as: “We are extending the Moneycontrol brand to a transaction platform to better serve our existing users, who have trusted us for almost two decades for their need for financial information before investing. Mutual fund awareness is growing and investments by retail investors have seen a tremendous growth of 1.6 lakh crore in past 12 months. We have developed a product that can handhold new investors of mutual funds and also satiate the requirements of more seasoned investors who want to get insights into their investments."

"New users will find a product that is simple and elegant to use and will also be able to invest in mutual funds quickly yet confidently, backed by Moneycontrol and CRISIL’s recommendations. At the same time, advanced users will be engaged by the consolidated as well as granular views of their investments. We are looking to continuously evolve and add more value-added features for our users,” he said.
Not sure which mutual funds to buy? Download moneycontrol transact app to get personalised investment recommendations.
First Published on Feb 20, 2019 09:20 am
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