These days, I am seeing advertisement of ZIPSIP on some of the websites. Myuniverse which is part of Aditya Birla Money has introduced ZIPSIP, a unique and simple Mutual Fund Investment platform. There are some unique features of this new MF platform, hence I thought I should cover as part of a review on this blog. What is this new ZIPSIP Mutual fund platform all about. What are the unique features of ZIPSIP? Who can consider this ZIPSIP mutual fund trading platform for investment?
What is this ZIPSIP Mutual Fund Platform?
ZIPSIP is launched by Myuniverse, which claims as no.1 personal finance portal and is part of Aditya Birla Money. ZIPSIP is a platform where with some easy clicks, the system would assess the risk profile of the investor and one can invest within 2 minutes in mutual funds through pre-defined SIP Portfolio.
Also Read: How Trackinvest Religare Virtual Stock Trading Platform helps you invest in stock markets?
How does the ZIPSIP Mutual fund platform work exactly?
Explained step by step process with a few screenshots also
1) Visit myuniverse, ZIPSIP link
2) Tell about yourself like
4) How much money do you want to invest every month?
5) Status of family, whether you are single, married or nearing retirement
6) When it comes to investing, select one of the following – Beginner, Proficient or Expert
7) Risk capacity and earnings expectations
- Low risk, consistent returns
- Moderate risk, moderate returns
- High risk, high returns
8) How do you react of your investments going down
- Sell Part of investments
- Hold to get good returns
- Buy More
9) System would indicate that it is finding optimal SIP Plan and would provide you with the plan
10) Enter your email ID, name and mobile number to retrieve at later point of time.
What is so unique about the ZIPSIP Mutual Fund Platform?
- This is very fast. With a few easy clicks, risk and investment details are ascertained for an investor.
- Offers instant SIP and funds debited immediately and subsequent debits through ECS mandate.
- ZIPSIP is totally free of cost
- Once your portfolio is built, you need to select the total SIP amount. Allocation of amount to Mutual Fund SIP schemes would be done automatically by ZIPSIP Platform. You just need to select a total value (₹ 2,500 to ₹ 100,000 per month + SIP Tenure (1 year to 15 years) and select which week you want to invest in a month (week-1, week2, week3, week-4)
- Myuniverse experts would indicate the SIP schemes based on your details and automatically invest in a selected portfolio of schemes.
Also Read: Top Performing Balanced Mutual Funds to invest in 2015
Drawbacks of ZIPSIP Mutual Fund Platform
- SIP Portfolio is chosen by Myuniverse team experts. Investors cannot select the mutual fund schemes on their own.
- Investors cannot shift risk appetite. E.g. they cannot change the plan from low risk to moderate risk or high risk and vice versa.
- Minimum amount of investment is ₹ 2,500.
- Minimum tenure of investment should be at least 1 year.
- No detailed research provided nor clarity on how funds have been chosen by their experts for investment.
- The system recognizes 1 plan per IP address. If you already created one plan using your laptop or desktop and have a family member to make investment, the system would not allow you to create one. I struggled a lot to pick-up another sample for analysis purpose.
Conclusion: While there are several new features being introduced for stocks, there are only few enhanced features / products are made for mutual funds. I felt ZIPSIP is not different from scripbox which also offers a similar product (though I am yet to review completely). Investors have matured now with several educational websites / blogs which keep pumping fresh data and analysis. I feel one need not invest in such products. However, if an investor is new and do not have time to research which mutual funds he or she want to invest, they can consider such unique products. Such products would allow them to invest with a few simple clicks and with minimal process. However, if you are already investing in mutual fund schemes, you may not find this product as interesting as it would not allow you to invest in funds other than those recommended by their experts.
Readers, what is your view about ZIPSIP? Have you invested in SIP schemes through this new mutual fund platform?
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Suresh
ZIPSIP – Mutual Fund Investment Platform – How does this work?
