RankMF, part of the discount broking firm Samco Group, has launched SmartSwitch — a new mutual fund portfolio upgradation tool. SmartSwitch analyses mutual fund portfolio of investors and recommends proper reallocation. With SmartSwitch, the investors will be able to evaluate their current mutual fund portfolio, check their portfolio score and switch poor-performing funds into new recommended funds.
This innovative tool will help investors by scoring existing mutual fund portfolio on various parameters like 1) quality of existing mutual funds, 2) category of mutual funds, 3) over or under exposure to specific fund or category and 4) over or under diversification.
SmartSwitch uses RankMF’s proprietary research and rating engine to suggest switching of poor-performing schemes with high quality recommended schemes, the company said in a statement. The company claimed that SmartSwitch will be India’s first revolutionary mutual fund portfolio evaluation and recommendation tool.
"SmartSwitch helps investors get a quality score for their portfolio, get specific recommendations and then will allow them to switch poor-quality funds to better-recommended funds,” said Jimeet Modi, CEO, Samco Group.
"RankMF takes into consideration a variety of factors into consideration and over 20 million data points such as expense ratios, standard deviation, beta, market valuations, and multiples, portfolio holdings and diversification/concentration of portfolio, the cash ratio of a fund, size of the fund, the predicted yields and we can go on and on, however one of the most important factors is the actual portfolio quality of holdings since that is what is going to deliver investor returns," the company said.
"SmartSwitch is a revolutionary solution for these investors. They can simply upload their eCAS, check their portfolio score and switch their existing investments from poor quality or non-performing funds to a recommended quality mutual fund portfolio,” Omkeshwar Singh, Head - Rank MF, Samco Group said.
