This topic describes the information about Purchase Mutual Funds. User can purchase single or multiple mutual funds with this option.

Mutual Funds (MFs) are investment instruments fund collects money from investors and invests the money on their behalf. It is one of the top investment choices for retail investors that allows the investors to view and manage the professionally managed portfolios of instruments like equity shares, bonds, insurance etc. Some mutual funds are also traded in stock exchanges - these are called Exchange Traded Funds (ETFs). Mutual Funds are managed by a fund manager. The investor share of investment is called as Units that represents the ownership of the investor in the scheme.

The investor make the purchase of Mutual fund units, or shares, based on the fund's current market value of the fund's investment portfolio which is termed as net asset value (NAV) per share/ NAVPS. A fund's NAV is derived by dividing the total value of the securities in the portfolio by the total amount of shares outstanding.

The investor (retail user) can purchase single or multiple mutual funds in one go and can place orders to be executed same day or at any future date. Further customer can place one time lump sum order or a recurring order called Systematic Investment. The investor can buy mutual funds from their existing schemes as well as invest on new schemes. The OBDX allows the user (investor) to view the list of recommended funds and top purchase funds so that he can take a decision of buying the funds.

Pre-requisites

• Transaction access is provided to the Retail User.

Features Supported In Application

The module supports the following features:

• Purchase Funds - New
• Purchase Funds - Existing

Navigation Path:

Perform the following navigation to access the Purchase Mutual Funds screen.

• From the Dashboard, click Toggle menu, and then click Menu. From the Menu, then click Financial Management , and click Wealth Management . Under Wealth Management , and then click Place Orders, click Purchase Mutual Funds.
• On the Dashboard, click Overview Widget , and then click Mutual Funds . From the Mutual Funds , click Investments Account kebab menu, and then click Purchase Mutual Funds.
• Access through kebab menu of the Place Orders transactions.

The Purchase Mutual Funds screen appears.

• Purchase Funds - New
  This topic describes the systematic instruction to Purchase Funds - New screen. This option allows user to place purchase orders either one time or Systematic Investment Plan (SIP) or Standing Instruction (SI) type .
• Purchase Funds - Existing
  This topic describes the information about Purchase Funds - Existing screen. User can place purchase orders either one time or Systematic Investment Plan (SIP) or Standing Instruction (SI) type with this option.