How to Track Your Investments with a Mutual Fund App

Tracking and managing investments is an important part of achieving financial goals. Regular monitoring and analysis are essential to track the performance of the portfolio. Mutual fund apps facilitate this process by compiling details about all investments into one platform, which systematically tracks SIP investments, evaluates funds, and keeps you informed about market changes. Effectively using a mutual fund app will allow you to make proper investment choices, remain organised, and ensure that your investments are aligned with your goals. This guide will take you through the process of getting the right mutual fund app and how to track your investment with the help of this app for a smooth investment journey.

How to Choose a Mutual Fund App

The first step to successful investment tracking is using the right mutual fund app. It is very important to fulfil your needs. Here are some of the vital features to look for when considering a mutual fund app.

• Portfolio Tracking: The app must allow you to monitor your entire portfolio of investments. An organised platform enables easy portfolio monitoring.
• Customised SIP Planner: This is an essential feature that you must look for to effectively schedule, manage, and track your investment contributions.
• Performance Insights: The app should have performance analysis options that display fund performance through a simplified approach, such as graphs, allowing users to get fund performance updates quickly.
• Notifications and Alerts: The app should include alerts to notify you of due payments, performance updates, or any other updates related to investment.
• User Interface: Look for an app that is user-friendly and has simple navigation that makes it an easy-to-use application for both new investors and seasoned investors.

Steps to Track Investments

Consistent tracking of investments ensures better management of a portfolio. Here is a stepwise procedure to follow.

• Download the Mutual Fund App: Go to the application store on your mobile and search for a mutual fund app that is compatible with your needs. Before downloading the application, check the app’s reviews and assess what other users say about it.
• Sign Up and Log In:  After downloading, create an account using your credentials, like an email or a mobile number. If you already have an account, just log in using your credentials.
• Link Your Portfolio: Sync your existing investment account with the app. Some apps allow direct sync with banks or investment platforms.
• Use the SIP Planner: The best SIP planner helps you track and manage your monthly contributions. It provides detailed reports and reminders for payments.
• Monitor Regularly: Keep regular checks on the app to look for updates. Review how your investments have performed and check whether they are aligned against your set goals.
• Set Alerts: Set alerts for upcoming payments, modifications in fund performance, or general important notifications. Alerts are a great way to keep you updated on what is happening in the market and can also help you make informed investment decisions.

Features You Should Use in a Mutual Fund App

A mutual fund app comes with various tools to help in monitoring investments smoothly. Here is the list of mutual fund app features that you can utilise:

• Dashboard: A clean and detailed dashboard offers an overview of your total investments, profits, and losses in real time.
• Reports and Insights: Using a mutual fund app helps you with detailed performance reports on investment. You can use these reports and insights for a better understanding of investment progress.
• Goal Tracker: This feature of a mutual fund app enables you to track your current progress compared to your specified financial goals.
• SIP Calculator: Many mutual fund apps offer SIP calculators through which you can calculate estimated returns on investment just by entering your investment amounts and the duration for which you are planning to invest. Thus, a fund app can help you set an informed financial goal.

Tips for Effective Tracking of Investment Using App

Use these general tips to keep track of your investments effectively:

• Develop a habit of regularly opening your mutual fund app and checking your investments regularly to stay informed about any changes in investments.
• Set realistic goals and track your investments’ performance frequently to keep them in line with your financial goals and maintain steady investment progress.

Conclusion

Tracking your investments with a mutual fund app ensures that your financial journey stays organised and focused on achieving your financial goals. By choosing the right mutual fund app with features like portfolio tracking, SIP management, performance analysis, etc., you can simplify your investment monitoring. Regularly checking the app, reviewing fund performance, and setting alerts can help you stay updated and make informed decisions. A mutual fund app not only saves time but can also keep your investments aligned with your objectives.