May 20, 2024

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Ways to track your mutual fund investments

How To Track Your Mutual Fund Investments - The Economic Times

Investing in mutual funds can understandably be intimidating. Even the internet, the repository of information, might not help you with mutual fund investments. A financial advisor can be helpful in such cases. They can offer sound financial advice and help you track your investments. Tracking your mutual fund investment can help you determine how your mutual fund is performing. Here are the ways you can track your mutual fund investments:

  1. Consolidated account statement:

A CAS or consolidated account statement is a statement of all the monthly financial transactions carried out under the same PAN (permanent account number). You will receive CAS from CDSL (Central Depository Services Limited) or NSDL (National Securities Depository Limited) listing all the financial transactions. You can access the CAS through email or the CAMS (Computer Age Management Services) website. A CAS statement shows you all the acts that impact the value of your mutual fund investments, like switches, new purchases, and redemptions. Simply put, these statements simplify monitoring investments.

  1. Mutual fund fact sheet:

Asset Management Companies (AMCs) send you a ‘fact sheet’ of every mutual fund scheme and update it monthly with up-to-date information under the SEBI rules. This document provides information about the most recent portfolio allocation, NAV, fund managers, and investment performance. A mutual fund fact sheet is a report card for your fund performance and provides insight into your portfolio health.

  1. Online portfolio trackers:

An online portfolio tracker will help you track the progress of your mutual fund investments. Several platforms also offer online tracking tools that can do more than track. These tools even suggest better mutual funds if any fund is underperforming. These tools send you the CAS. It is a report that shows you the portfolio health. It juxtaposes your investments against the NIFTY 50 index and shows how your portfolio performed against it. They also inform you about the hidden fees you can avoid, detect exposure to substantial risks, and identify underperforming funds. Online trackers have simplified investing and are accessible. Just Google ‘online trackers to invest in mutual fund’.

  1. AMC app/site:

Log into the AMC website or app to assess the performance of your mutual fund in that particular AMC. However, this method can be time-consuming if you’ve invested in multiple mutual fund schemes or AMCs. In such situations, it is prudent to use an online portfolio tracker that will display all your investments in a single consolidated statement.

  1. Investment advisors:

A SEBI-registered advisor is the most conventional technique to monitor mutual fund investments. If you have just started investing in mutual funds, consult a skilled, SEBI-registered advisor who can help you choose mutual fund schemes aligning with your risk tolerance and investment goals. The advisor may monitor your assets and guide you to earn higher returns.

Conclusion:

Mutual funds are marketable securities. Hence, their performance varies based on market conditions. So, what are you waiting for? There are two modes for investing in mutual funds. One of them is the systematic investment plan (SIP) mode. You can also invest in mutual funds through SIP online.

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