You can now invest in mutual funds through WhatsApp; should you?

A couple of mutual fund houses and Computer Age Management Services (CAMS), a registrar and transfer agency for 16 fund houses, have recently launched investment facilities through WhatsApp, probably the most used app on your mobile phone. You can now use your WhatsApp, a messaging app used by more than 400 million users in India, to carry out a host of financial and non-financial transactions in mutual funds.

Aditya Birla Sun Life Mutual Fund and Motilal Oswal Mutual Fund have started the WhatsApp-based investment facility recently. Aditya Birla Sun Life Mutual Fund offers a wider array of options than Motilal Oswal Mutual Fund.

Computer Age Management Services or CAMS also recently launched a WhatsApp-based bot ‘CAMServ’ to help individuals to perform various financial and non-financial transactions in any of the 16 AMCs serviced by it.


What’s on offer?
Aditya Birla Sun Life Mutual Fund allows you to invest a lumpsum or via SIP, redeem, get your account statement, capital gain statement and get NAV of your schemes. The facility allows new investors to complete their KYC as well.

Motilal Oswal Mutual Fund allows their existing investors to invest via SIP or lumpsum. Investors can purchase in equity schemes, index fund NFOs and hybrid schemes. Motilal Oswal doesn’t allow you to buy debt funds. If you are a first-time investor with the AMC, the facility asks you to open an account on the AMC’s website first.

CAMServ allows you to purchase, redeem, start an SIP, receive your account statement, and check status of your transaction. You can make additional purchases in existing or new folios of AMCs in which you are an existing investor. The WhatsApp bot does not allow you to create a new folio. The facility also allows you to change your bank details, nominee, joint holder and any other personal details as well.

How do you go about it?
To access CAMServ, save ‘6384863848’ number in your contact list. Open the WhatsApp window and just type ‘Hi’ to get started.

To use Aditya Birla Sun Life Mutual Fund investment facility through WhatsApp, you can save this number- 88288 00033 in your phone. Send a ‘Hi’ to initiate the conversation. The conversation then flows depending on what you are looking for. Alternatively, you can give a missed call at 9579810022, or send code “Yes” via SMS on 8451000355.

To access Motilal Oswal Mutual Fund WhatsApp investment facility, you can add number- 9372205812 in your phone contact list, open WhatsApp window and type ‘Hi’ to start the conversation.

Wishfin, a financial marketplace, also allows you to start a systematic investment plan (SIP) through WhatsApp. You can go to the mutual funds section on the Wishfin website and enter your mobile number to get started. The limitation here is that it does not offer you wide choice of funds. The platform gives you selected funds to start SIP.

Should you use the facility?
CAMServ can be quite useful if you are investing in any of the scheme from the 16 fund houses serviced by CAMS. Similarly, if you are specifically looking for schemes from Motilal Oswal AMC or Aditya Birla Sun Life Mutual Fund, you may use their WhatsApp-based service.

However, the facility alone should not be the reason for you to start or continue your investments in mutual funds. You should always choose your mutual fund based on your goals, horizon, and risk profile. Do your research before investing. Finally, if you are not familiar with mutual funds, you should always seek the help of a seasoned mutual fund advisor near you.