Mutual Fund investment is one of a good avenue to park our hard-earned money. It gives us a decent return better than savings account and time-deposit interest. For newbie investor, Mutual Fund investment is the most recommended vehicle to ride on since there is a Fund Manager who manage it and lay-out on a diversified portfolio. As an investor, all you have to do is fund your account and let it grow according to your holding period.
Mutual Fund has different types. It varies and categorized according to risk profile of an investor. These are the 4 types of Mutual Funds.
1. Money Market - It is invested in short-term debt securities. Recommended for moderate risk investor and short-term horizon.
2. Bond Fund/Debt Fund - It is invested in bonds or other debt securities. Recommended for moderate risk investor but for long term horizon.
3. Balanced Fund - It is invested both in stock (50%) and bond investment (50%). Recommended for aggressive investor with long term horizon.
4. Equity Fund - It is purely invested in stocks (securities). Advisable to aggressive investor with long term horizon.
In some Mutual Fund companies, for as low as 5,000 pesos you can now open an account. It shares exprssed as NAVPS (Net Asset Value per share). Holding period varies depending on types of Mutual Fund.
3. Balanced Fund - It is invested both in stock (50%) and bond investment (50%). Recommended for aggressive investor with long term horizon.
4. Equity Fund - It is purely invested in stocks (securities). Advisable to aggressive investor with long term horizon.
In some Mutual Fund companies, for as low as 5,000 pesos you can now open an account. It shares exprssed as NAVPS (Net Asset Value per share). Holding period varies depending on types of Mutual Fund.
There are 2 ways to open a Mutual Fund account for OFWs. One of these, enable me to invest while working overseas.
1. Traditional Way - I called it traditional since the process is the same as usual way of opening an account for ex. opening a savings account. Each Mutual Fund companies has their basic requirements to settle. One of their advantage is having a Mutual Fund agent who will assist you to process your documents and serves as your Investment Advisor. For overseas application, your Mutual Fund agent will instruct you to scan your documents for data checking. When they approve it, they will advise you to send your original documents via courier. You are required to deposit your initial investment and send a scanned copy of receipt via e-mail to completely process your application. After a minimum of 5 working days (upon they receive your application) they will send your account details. Along your investment period, you'll enjoy the privilege of having a consultant/mentor represented by your Mutual Fund agent.
2. Modern Way (Online) - As COL Financial Inc. launched it's first online Mutual Fund Platform via COL FUND Source, opening an account in Mutual Fund made so easy. How to have an online account? First thing to do is you should have an COL Financial Stock account. To my fellow OFWs, I wrote a blog on how to open an Stock account overseas. Please follow this link
When you have COL account, no more additional documents needed. Your buying power in stocks will be your buying too in mutual fund. It works hand-in-hand. To invest in Mutual Fund, in your Home page you'll find Mutual Fund tab. Just click the tab and it will redirect you to COL Fund Source platform as shown in the photos below.
Here's the COL Fund Source Mutual Fund platform.
I'm sharing too this video tutorial to help you on how to navigate the site. You can watch the video here. You will then fill-up your risk profile first to know what type of investor you are. And then they will show you list of Mutual Fund companies depending on your risk profile. If you want to place your order, just click order entry and view orders to get updated on your status.
In my personal experienced, I found online investing in the mutual fund very convenient in every transaction I made. For OFWs like me, I highly recommend it. I'm sharing you these things to let you know that it's possible for us to invest our hard-earned money in this kind of investment vehicle.
Happy Investing!
In my personal experienced, I found online investing in the mutual fund very convenient in every transaction I made. For OFWs like me, I highly recommend it. I'm sharing you these things to let you know that it's possible for us to invest our hard-earned money in this kind of investment vehicle.
Happy Investing!
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