Portfolio Management Software for Indian Financial Advisors and Investors to manage stocks, mutual funds, fixed deposits and more...Personal Finance Software
(022) 4002-4149 support@mprofit.in |
With MProfit you can easily manage your PPF (public provident fund) and EPF (employee provident fund) investments.
Below is a quick introduction of how to enter your PPF/EPFs and the type of reports you can generate with it. We show you an existing PPF, how to enter a new PPF and reports you can create to view your PPF/EPF investments.
MProfit has made the process of managing your ULIPs (unit linked insurance plans) and insurance policies easier. Once you have decided which products to buy then you can easily enter in the details in MProfit and start tracking your investments.
Below is a quick introduction of how to enter your ULIPs and the type of reports you can generate with it.
Customers ask why we don’t automatically update the prices of ULIP products. The reason is because when you have a ULIP the expenses get deducted by selling some of your units. So, if we automatically updated the prices but you forget to update the quantity then you would have an incorrect amount for the total value. Hence, we recommend you update the policy value based on what your ULIP providers sends to you via mail. In addition, ULIPs are very long term products (15-20 years) so to track them on a daily or weekly basis is not really required.
Today, we are pleased to announce our latest v5.3 release.
1. One of the most requested features is the addition of 15 minute delayed prices during market hours. MProfit will automatically refresh the prices every 5 minutes.
2. Quick Reports – We have added the Group Holding Stocks report, to show which portfolios contain which stocks.
3. Reports: A new group report for ULIP/Insurance – it provides comprehensive information such as policy, nominee, sum assured, premium/withdrawal, maturity date and current policy value. Also, updated transaction reports for ULIP, Insurance and other assets. Lastly, we have revised the look of all the reports for easier viewing.
4. Import – We have added several more brokers to allow importing of contract notes from BP Equities, ODIN trade file, Pratibhuti Viniyog, Sharewealth Securities, SVS Securities and Vimal & Sons. (click for a current list of brokers)
How Do I Get The Update?
From the main menu select Help -> Check for Updates. You will need to restart MProfit to proceed with the update.
Please make sure that you have internet connectivity during this process and that your anti-virus software and/or firewall is not blocking the download.
We are pleased to announce our latest release v5.2. It contains several new reports, our new Quick Reports feature and many new import options.
1. Trading Profit/Loss Reports – Trading summary and detailed reports useful for investors who track their profit/loss on their trading activities in stocks based on average purchase price. The calculations would be different than those generated by capital gain reports which are based on First In First Out (FIFO) basis.
2. Income Reports – Reports give a summary or detailed view of income generated from your assets. For stocks, it would include dividend payout. For mutual funds, it would include dividend pay out and dividend reinvestment. For property it would include rent received. The report also includes all the interest income from your fixed income investment such as Bank FDs, Bonds, PPFs, Post Office, etc.
3. Quick Reports view – From the main summary screen the new “Quick Reports” button provides quick access to 3 reports: Portfolio summary, Trading P/L summary and Income summary.
4. Import – We have added many new brokers you can import contract notes including ACK Capital Management, Adroit Financial, Arcadia, Asset Alliance Securities, Beats Software, BRICS Securities, Chuknoo Securities, Composite Securities, Edelweiss Securities, Farsight Securities, First Global, Kedia Shares, Labdhi, Latin Manharlal and Microsec Capital. (click for a current list of brokers)
Video of New Features
If you would like to see the import feature, below is a YouTube video showing v5.2 in action.
How Do I Get The Update?
From the main menu select Help -> Check for Updates. You will need to restart MProfit to proceed with the update.
Please make sure that you have internet connectivity during this process and that your anti-virus software and/or firewall is not blocking the download.
Many mutual fund investors face a common problem which is getting a summary of all their mutual fund investments. Since each mutual fund house will send their own report it is up to the investor to summarize the data. Luckily, the two major mutual fund registrars – CAMS and Karvy provide a facility to allow a customer get their mutual fund information from one location.
If you use CAMS then you can request your data via an Excel file. Click here for more information.
If you use Karvy then you can login to your account and automatically import the data into MProfit. Click here for information.
Once your data is imported into MProfit you can print asset allocation reports for ALL your financial holdings such as stock, property, gold, FD, Insurance and more. You also get a daily update on all your holdings from a single screen which makes it very easy to track all your assets with MProfit.
Today we are releasing v5.1 of MProfit. Since the release of our import feature in v5.0 we have received many requests to add more brokers and online portals. We realized we needed to make the import window much easier to use so we streamlined the import window to handle the growing list of import options available to you.
With v5.1 we have added Angel Broking, Atlas Integrated, Baljit Securities, Enam, Geojit BNP Paribas, ICICI Direct, IDBI, India Infoline (IIFL), Joindre Capital, KR Choksey, Magnum Equity, Networth Stock Broking, Nirmal Bang, Religare, RBS, Sharekhan and Unicon Securities.
In addition, we have added a couple more options for Mutual Fund investors. You can directly import your online accounts from Karvy Online and Prudent Corporate Advisory.
Lastly, this version fixed a couple minor bugs. You can download a new version from our website or from within MProfit you can goto Help -> Check For Updates and download the update.
We are pleased to announce our most exciting release of MProfit yet…v5.0. Customers have been telling us they wanted a way to import their financial data and with v5.0 you can now import your data. We provide 4 ways to import your data:
1. Brokerage digital contract notes. We currently support Anagram Securities, IL&FS, Kotak, Lalkar, MF Global, Motilal Oswal, Reliance and many others. If your broker is not listed please let us know and we’ll add them.
2. CAMS/KARVY mutual fund files. We support Karvy 201/221, CAMS WBR2 and CAMS personal files.
3. Predefined Excel formats – Using the templates provided you can import your stock and mutual fund transactions. Stock template | MF template
4. Online portals. We currently support Value Research Online and NJ Fundz. This allows you to keep a backup of your financial data on your computer and also aggregate all your financial data.
Video of New Features
If you would like to see the import feature, below is a YouTube video showing v5.0 in action.
How Do I Get The Update?
From the main menu select Help -> Check for Updates. You will need to restart MProfit to proceed with the update.
Please make sure that you have internet connectivity during this process and that your antivirus software and/or firewall is not blocking the download.
Moneylife Magazine recently did a feature story on the various tools available to manage your money. Moneylife is a leading personal finance magazine that was started by Debashis Basu and Sucheta Dalal, they provide excellent common sense advice about money. Sucheta Dalal is an award-winning business journalist and author of several books including “The Scam: From Harshad Mehta To Ketan Parekh”.
Their latest issue, features MProfit as one of the tools investors can use to manage their portfolio. At MProfit it’s not just about using our software but also about building a community of investors who have similar goals and providing useful information to our customers.
Currently, there are basic 4 categories of tools available to investors:
1. Watchlists – these are available on many websites and just track your stock and mutual fund holdings on a daily basis. Your financial data resides on an internet server.
2. Expense tracker – these websites help you manage your monthly expenses such as EMI, food, clothing, etc. Your financial data resides on an internet server.
3. Brokers trading platform – allows you to trade through your broker and keep track of your investments, but this requires you to always use the same broker. Some provide this online and some provide a desktop application.
4. Portfolio Manager – There are several online portfolio managers and several desktop applications. (MProfit fits here)
MProfit was created based on 3 simple points:
1. Easy to use
2. Full data security
3. Economically priced
MProfit does much more then just track your investments. Our reporting capabilities are unmatched and our unique “grouping” feature is why people love MProfit.
Over the next year you will see many new features added to MProfit but what we are most excited about are the plans we have around meeting our customers. We plan to have “meetups” in various cities and discuss topics such as financial planning, tax free investment options, how to save money using real world examples, etc… which we believe is what our customers really want!
The Family Office is a concept from the West where the management and investment decisions for a single wealthy family occur centrally. Although we don’t call them Family Office’s in India, most families are run like Family Office’s since the investment decisions affect the entire extended family. When we designed MProfit we took a look at the India Family Office concept and made it a central part of the software via our Groups feature. Our grouping feature allows you to aggregate all your individual personal portfolios into a single group view. This single group view is similar to how most Indian families view their portfolios as a single portfolio and not just individual portfolios.
The Grouping feature is very powerful when you create reports within MProfit. One example is the Group Asset Allocation report for Stocks, with this report you can easily see where you major stock holdings are for your entire family. Without the Grouping feature you would have to manually figure out each individual’s stock allocation and the add them together in Excel…not very efficient or easy. With MProfit, it takes just one click to generate the report.
Overall, MProfit is actually a Family Office software solution for Indian households and our easy to use interface is the perfect way to manage all your assets. Other family (group) features:
At MProfit, we get many queries from customers on the best way to financially plan for the future. Due to the frequent queries, we are starting a new blog and YouTube series called MProfit Basics. MProfit allows you to organize, manage and track all your investments, making it easier to plan for the future. In this series we will follow a family of 4 (Mr. Shah, Mrs. Shah, Niraj and Sunita) and describe the benefits of using MProfit.
The very first thing to do is setup MProfit. Since there are 4 family members, each family member will have one portfolio in MProfit.
[Open Portfolio -> New]
Mr. Shah
Mrs. Shah
Niraj Shah
Sunita Shah
Once all the portfolios are created, the next step is to create a Group. The group “Shah’s” will be created and it will connect the 4 portfolios that were created earlier. The group feature consolidates all the assets into a single view, which is how most Indian households view their investments.
[Open Group -> New]
Shah’s
Now that MProfit is setup, lets start to organize. The Shah family will gather all their documents related to their assets and understand who owns which assets and investments. This is a critical step as this will allow them to benefit from creating accurate reports which we will cover later. Part 2 will cover how to enter in their assets and investments.
YouTube tutorial:
