IDFC FIRST Bank ‘Ace’ Mutual Fund Feature on Mobile App
Why in the news
IDFC FIRST Bank added a tool called Ace to its mobile app, aiming to make mutual fund selection easier for people who prefer to invest on their own.
Key facts
- Coverage: over 2,500 mutual funds.
- Categories: equity, debt, tax-saving, hybrid and index funds.
- Analytics: past returns over 1, 3 and 5 years; holdings by sector, company and market cap; expert ratings including Morningstar.
- Helps users build a diversified portfolio matched to their financial goals.
Significance
- Lets customers shortlist funds quickly and confidently from thousands of choices.
- Narrows the information gap for retail investors.
Exam angle
- Bank: IDFC FIRST Bank; feature: Ace.
- Purpose: DIY mutual fund investing via the mobile app.
- Rating provider named: Morningstar.