Regular readers may recognize this name because I’ve mentioned them earlier when I used them to research mutual fund data for the post about calculating returns from mutual fund SIP.
The tool is still invite only, and they’ve been gracious enough to give our readers a special link to open an account immediately, and I’ll recommend taking advantage of that since this is a good tool, and is free as well.
I’ve used this for about a week, but only rigorously used it for the last hour or so, and based on that I’m writing my thoughts here.
1. Look and Feel: The look and feel of the site is simply awesome, and you will love using it. The interface is very intuitive and the response time of the site is great as well. This is an important aspect because some of you complained that Moneycontrol portfolio was cluttered. The interface on MoneySights is quite good, and there’s no clutter anywhere.
2. Mutual Fund Options: There are several very good options to analyze and evaluate mutual funds. You can enter mutual funds from a past date, and also own them as you would’ve owned them if you had done a SIP.
You can also compare the portfolio returns with Sensex over a period of time which tells you when your funds did well, and when the Sensex did better.
3. Quick: The site is quite quick to load, and even when you make changes mid-way the response times are pretty good, and overall I was quite impressed with how intuitive and quick to respond the site was.
4. Can’t add cash to the portfolio: I was disappointed to see that I can’t add cash to my portfolio – this is quite an important thing for me as I want to keep track of my liquid assets too. I’m sure there are several other people who want to do this as well.
In fact you can’t add anything other than stocks or mutual funds right now, so you can’t create custom assets or track ULIPsÂ on this tool.
5. Stock advice: The portfolio tool gives you stock advice in terms of “Top 5 Stocks to Buy”Â and “Upside Potential”.
I’d recommend my readers to ignore this completely because I don’t quite understand how they know which 5 top stocks to buy and the upside potential of it. And though I don’t know how they are arriving at these conclusions I doubt if there is anything that can convince me of their utility. I wished there was a way to turn them off, but ignoring them is just fine as well.
There is another indicator there called “Financial Strength” and if you own a stock which is low on that then you can look at the numbers again to see if there was something that you missed earlier.
On the whole I like this tool, and I think it makes sense to create an account now, and play with it. Even if it doesn’t fulfill all your needs now they are still building it and in time it can become your primary portfolio tool.