As people drove more towards long-term investments, mutual funds grew in popularity, and so did mutual fund apps. When it comes to investing in mutual funds, these apps are preferred as they offer easy and quick access to all the information related to them.
With just a few taps, you can easily track your portfolio, invest in diverse types of mutual funds, assess their performance and a lot more to help you achieve your long-term financial goals. If you are starting your mutual fund investment journey and wondering whether a mutual fund investment app is right for you, continue reading.
Features that Support Long-Term Investments
● Diverse Options of Mutual Funds
For long-term investments, the best practice is to diversify your funds in different assets and sectors. Having a feature that offers you a diverse range of investment options to choose from helps you distribute your funds and diversify your portfolio.
● Easy-to-understand UI
Having an easy-to-understand user interface on a mutual fund investment app helps beginners and seasoned investors alike. It allows you to navigate through various features and tabs to buy, sell, research and track balance efficiently. Also, it helps you make informed decisions and grow as an investor.
● Tracking Tools
The best way to understand how your investment is performing in the current market is to have and use the performance tracking tool provided by the mutual fund investment app. These tools also help you track and rebalance your portfolio, thereby helping you choose new long-term investment funds.
● Customer Support
Having responsive customer support helps you understand the features of the investment app and how you can use them to their best potential. Additionally, they help you understand the crucial aspects of buying a mutual fund and navigate the process in case you encounter any difficulty or queries regarding app usage.
Choosing the Right App
To maintain long-term investments successfully, it is important to select the right app that provides you with the best features required to maintain your portfolio. Here are the features to consider while choosing a mutual fund investment app:
● Research and Analysis tool
Having a feature that helps you carry out the necessary research and analysis without having to leave the investment app. Tools like technical indicators, charts, etc., help you predict the growth of your investment tool and make decisions accordingly.
● Transparency and Security
The mutual fund investment app must offer features that give accurate and timely updates and maintain transparency with its customers. Customers can trust apps with transparent terms and proper regulation according to the guidelines set by SEBI.
● Cost Efficiency
The app must have an open fee structure and apply charges according to the guidelines set by the regulatory body, SEBI. Ensure that all charges related to mutual fund investments are disclosed by the app and you understand them before making any transaction.
● Flexible Plans
The app must also offer flexibility to help you choose investment in mutual funds based on your personal preferences, goals, risk appetite etc. For example, if you wish to invest through an STP (Systematic Transfer Plan), it should offer such an option along with lump sum, SIP and SWP investment options.
Conclusion
Investing in mutual funds for the long term helps you maximise your profits and minimise the risks associated with market fluctuations. Apps are crucial in facilitating easy long-term investments. As more people prefer online MF investment for the longer term, these apps are growing in importance, and rightly so. The above-listed features make the investment journey easy and insightful for all types of investors.
