Want to register for a mutual fund but don’t know how? We list the steps involved.
Over the years, mutual funds have gained enormous traction in India owing to their affordability and the wide range of asset classes they encompass. They are a good option for both novice and experienced investors, all of whom have a range of short term and long-term goals to meet.
It is easy enough to buy mutual funds online from leading fund houses. It is a faster, more affordable option since you don’t have to engage a broker’s services. Leading fund houses help you set up the mutual fund login and thereafter, monitor your investment online.
We’ve compiled a step by step guide to start your mutual fund registration with a leading fund house:
* Make a list of goals and related asset allocation. Start by listing down all the goals you want to tick off in the next decade or 15 years. Next to each, put down a number – this denotes the money required to realise that goal. This list is a roadmap for your future, and it will help your fund manager help you allocate the right assets accordingly.
* Look at only the best mutual funds over the last 10 years. Mutual fund performance is considered over its entire life span, not just its performance indices over the last couple of years. You can check online for star rated MFs, and also read their offer documents to know all terms and conditions involved. Do look up factors like lock-in period, exit load, average rate of return, ratio of exposure of equities to debt, latest NAVs, etc.
* Select the fund house. Now that you have an idea of which mutual funds to invest in, it is time to look at the fund houses that offer those funds. Log on to the fund house’s web portal to find detailed information about the fund. This information will help you choose the sector and index funds to create balance in your portfolio.
* Register for the fund. By now you have all the information you require about the funds you wish to invest in. The next step is mutual funds registration online. If you are a new investor, the fund house will ask you to create a mutual fund login with these details: Name, Date of birth, PAN, mobile number and email ID. After this, you will be directed to choose the fund you wish to buy. The mutual fund registration process includes paying the first instalment towards the fund, giving your account details for auto debit, contact information, etc.
After getting your mutual fund login with the fund house, you can simply log in using the assigned log in email or PAN.