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MyUniverse ZipSip review for mutual fund investments

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Mutual funds are getting popular and with SIP, people are able to invest without any hassle. MyUniverse ZIPSIP is one such platform by Aditya Birla Money which recommends funds customised as per the investor profile. What it does is determines the risk profile and expected return of the investor by asking few questions and recommends the most suitable funds.

ZIPSIP Review

How it works?

One can access ZIPSIP option, available on Myuniverse.co.in.

Certain questions need to be answered to determine the preferences like:

  • Age group
  • Investment limit
  • Marital Status
  • Are you a beginner/ proficient/ expert in investing
  • Risk and return profile
  • What if the investment value goes down?

Depending upon which, investor profiling is done. It is then redirected to a screen asking for log in details. Once registered on the site, various funds options are made available to choose from.

In my first try I selected age as below 35 and investment limit as up to INR 2500 every month. Only two questions were asked and I was directly recommended 3 funds matching my profile to invest in from each category a) Long term wealth creation plan b) Tax saving funds c) Enjoy benefits of both equity and debt.

Either one or all can be selected for investment. Investment starting as low as INR 500 can be made in the SIP. Also, option of date for monthly payment and duration for investment are provided.

However, in my second try when I selected the selected investment amount as more than INR 10,000. Other questions were asked (which were not asked earlier) like:

  • Marital Status
  • Are you a beginner/ proficient/ expert in investing
  • Risk and return profile
  • What if the investment value goes down?

Once the information is submitted, portfolio with various funds based on the profile was made available.

Although, the option to change risk tolerance (on the right side corner) is available but there is no option to change the ratio in which the funds shall be invested and to re-assess the risk profile. Investment can only be made in the funds recommended. If the investor wishes to explore other funds the option is not provided.

Also, like in the previous case the minimum amount of investment through SIP was INR 500. In this case the limit is INR 2,500.

What is good in this?

  • It is a good option for those who don’t have any idea about investment options.
  • Investment with minimum of INR 500 (or INR 2,500) can be started.
  • Ready available investment options depending upon the risk profile of investor.
  • Fund performance (in both cases) can be viewed by clicking on the name.
  • Quick investment options (literally takes about 2 minutes).

What it lacks?

  • It does not allow us to browse through funds other than the recommended funds.
  • Risk profile once selected cannot be changed.
  • The ratio in which the funds shall be invested cannot be changed.

Do share your views, reviews, queries, feedback’s about ZIPSIP below.

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