Mutual Funds are a professionally managed portfolio of stocks. As the name implies, cash from many investors gets pooled into it. Money managers, regulated by the Government, place the investments in a selection of stocks and bonds. Their goal? Try & make this Fund profitable over time.
Currently, the Fi app gives investors access to nearly 950 mutual funds. Here are a few of the mutual fund offers listed on the app:
Investments can be made through Fi: weekly, monthly, or even daily through SIPs (Systematic Investment Plans). The app automatically handles all recurring investments if the weekly, monthly, or daily investments are automated based on FIT rules.
*On the app's Home page, tap Invest (seen at the bottom of the screen)
*Scroll down to 'Explore Investments & Savings' & select Mutual Funds
*Based on your needs, investment philosophy & risk appetite, select one of 950+ funds
-To make it easier for you, there are Curated Mutual Fund baskets
-Use any of our 60+ DIY filters to find funds based on risk, returns, expenses, etc.
-After selecting a fund, tap on Invest one-time or Set up SIP
-Follow the on-screen steps & enter the amounts you wish to invest
Fi is super secure as it functions under the guidance of epiFi Wealth, a SEBI-registered investment advisor.
*The investor has access to a single-click setup from his Federal Bank Savings Account via Fi
*More than 60 DIY filters help them identify the perfect investment opportunity.
*Collections: Choose from a range of curated mutual fund collections.
*No penalties for missed payments
*All fund info is broken into easy-to-understand, bite-sized nuggets
A mutual fund is a trust fund with multiple investors who pool their money to create the fund for investments. The entire sum is monitored and managed by professional fund managers. They invest it in numerous financial instruments such as bonds, equities, and other assorted funds. Thus, their money management investments grow for the investors' benefit by producing income or capital gains. They are classified broadly through asset class, structures, speciality, investment objectives, and risks.
Over the years, mutual funds have become one of the most popular investment channels in the market, owing to the security and lucrative returns they offer to investors at minimum risk. More importantly, regulatory authorities monitor their performances. It can conduct audits of fund houses or intervene in the case of any discrepancy.
In Mutual Funds, an NFO, or New Fund Offering, emerges as a significant event. It signifies the launch of a fresh mutual fund scheme by an asset management company (AMC) to gather investments from interested individuals. Similar to an IPO (Initial Public Offering), the NFO grants the AMC the opportunity to issue units of the new fund for a subscription. During a specific subscription period, investors have the chance to partake in the NFO and explore new investment avenues in the world of mutual funds.
The duration of the NFO is a maximum of 15 days for a mutual fund.
Once the NFO period for a new scheme ends, the mutual fund company will allot scheme units within five days. If you are not allotted any units, possibly due to incomplete KYC norms or errors in your application forms, the fund house will refund the money you applied with.