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RankMF, part of the discount broking firm Samco Group, has launched a new mutual fund upgradation tool called ‘SmartSwitch’ which analysis mutual fund portfolio of investors and suggests proper reallocation.
The portfolio sanitisation tool SmartSwitch uses proprietary research and rating engine of RankMF to recommend switching of poor-performing schemes with high quality schemes.
Jimeet Modi, CEO, Samco Group, said that about ₹11 lakh crore asset under management (AUM) of the mutual fund industry is stuck in less than four star rating. In this scenario, it is important for investors to set aside their emotions with poor-quality funds and shift to good quality funds to avoid further losses, he said.
“If someone has invested money with great discipline and still not made gains, it means that you have invested in wrong mutual funds,” he added.
Omkeshwar Singh, Head - Rank MF, Samco Group, said that investors can 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.
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