Sharekhan, a savings and investment partner for investors on Tuesday announced the launch of InstaMF, its online and paperless mode of investing in mutual funds.
In three steps, InstaMF enables investors to buy mutual funds or start SIPs (Systematic Investment Plan). InstaMF facility is available to investors without the need of opening a demat account with Sharekhan.
"InstaMF is in line with Sharekhan's aim of providing digital excellence to investors. A pure online platform, InstaMF will make investing in mutual funds as easy as 1-2-3. Investors can choose any scheme according to their investment horizon and backed by research from Sharekhan," said Jaideep Arora, CEO, Sharekhan.
The InstaMF platform allows investors to open an account in just three steps. In the first step itself, investors will know whether they are KYC compliant or not. In case their KYC is not in place, Sharekhan will get in touch with them within 24 hours to complete the KYC process.
Additionally, with an InstaMF account investors will also be able to access the 'flexi invest' option provided by Sharekhan. In Flexi Invest, investment amount, date and frequency of SIPs can be altered at any given point of time.
Stefan Groening, Director - Investment Solutions, Sharekhan said "With the surge in retail interest in equity markets via mutual funds, InstaMF will help the growing investor base to invest with ease. InstaMF also gives the investors access to Sharekhan's Robo advisor - NEO, where they get the best investment advice for their unique financial requirements. InstaMF brings the expertise of Sharekhan to investors so that they can take informed decisions."
NEO, the robo advisor, helps investors to plan and implement financial goals in a pre-determined time frame by giving tailored recommendations based on their risk profile. It also continually reviews the investors' portfolios and provides timely recommendations to keep investments in line with their goals.
InstaMF will soon introduce Aadhaar based account opening to further facilitate investments in MFs.
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