ET Money Mutual Fund, SIF, SIP

I’ve been using this app for years now. It has been improved a lot since then, now with the addition of Genius it’s even better. All the features, ease of use, etc makes the app eligible for a 5 star, but there is one issue in the algorithm which is used to track investments. It sometimes messes up the total investments in MFs when tracking the external MF investments, it somehow, somewhere ignores few transactions/ counts few as double transactions and messes up all the transactions posted. Like for me, it’s showing the invested/current portfolio worth as around 50% higher than what it is actually. So now I wish there could be a one touch option to clean the external investments and then recreate the database again by uploading the CAS statement. Or the best would be if you guys improve on your algorithm to track the investments correctly. I’d always seen such anamoly, but never bothered because it used to be an error of ~5% till now. But since the the error is ~50% and I’ve been using it to track my folios at single place, the error bothers me more than earlier so thought of writing about this here. Until the issues are resolved (either way), I feel the app is 3*

The app is helpful for beginners to start investing by checking financial data which is readily available on the app. However, on the appearance front, the team should develop a proper Dark Theme. The one that was released a few days ago is a joke. I have been dropping mails for a long time now but this so called Dark Theme has just darkened the background. Every single section is still in Light mode. Besides, a few charts like amount invested per month, projected value in 1 year and changing the “how much you need to invest for goals” into something actually useful. Currently it has a pre-programmed set of values which is another joke. A lot of machine learning models can be trained to predict this better. Please take a look into this. I am certain it will help a lot of users in the long run.

The app is definitely a positive in so far as convenience is concerned and helps bypass long paperwork and processes. At the same time the KYC process is simple enough for even a first timer to follow and register. The app needs development in terms of providing more options in SIPs. Currently the app only provides for High Growth High Risk option, Tax Saving option and SIPs with Balanced Returns option. That being said options like ETF based SIPs are currently not being provided. Second, as the SIPs do not provide details as to which are the portfolios the current Funds are invested in. Further there should be an option to ascertain what is the current market value of my investment so that investors can take an informed decision in case they require liquidity. In so far as money market options are concerned, the process as to what happens when money is invested in the money market and the risks associated with money market investments are not properly laid out. Unless one is made aware of the risks involved in money markets, attracting investors may be difficult. Definitely an app I would use as it makes my life easier but would want more optionality and features if the intent is to make it the sole one stop shop for making investments.