Few weeks ago, I have posted an article showing you how you can open an online monitoring account for your mutual fund investments in FAMI. I have been using this tool to monitor my funds and in making additional investments, and I must say, this makes my investing pretty convenient.
If you haven’t open an account yet, it just takes opening an account with First Metro Securities Brokerage Corp and allowing them to access your FAMI account. What it does is it activates the FAMI tab in your stock brokerage account, letting you view your Mutual Fund investments, and practically transact online through that portal.
Ok, let’s admit that the whole process of opening an Online Monitoring Account is not really that convenient. It’s actually a lot of hassle going back and fort to Metrobank branches, who sometimes, have staffs (and even managers) that are not even aware of what these things are. We, as investors, expect more from these mutual fund companies.
Nevertheless, once everything is setup, things should be convenient from then on.
Here is how it will look like:
There are several sections for this portal. There is an area wherein your individual investments are accounted for. Provided detail include Confirmation of Receipt (COR) no., number of shares bought, applied NAVPS, and corresponding profit for each investment.
There is a section where all investment to a specific mutual fund (e.g. Save & Learn Balanced Fund) are consolidated.
On the upper portion of the page, you will see four other tabs – Mutual Funds, Open an Account, Buy, and Sell. The first two tabs are just informational wherein details about the funds are described, including how to open an account, the prospectus, the applicable fees, and many more.
The latter tabs, on the other hand, are the transactions that you can complete through this portal. You can buy and sell Mutual Funds in these sections.
Integrated Fund Balance with Stock Brokerage Account
When you’re ready to make an additional investment, just ensure you have at least P1,000.00 in your Stock Brokerage account. FAMI online portal will use the funds in your Online Stock Trading account.
This online portal still have a lot of areas for improvement, one of course is that once an investor have invested in FAMI, FAMI should then automatically create an account for that particular investor.
Updating of the NAVPS seems consistently irregular.
No logging of transaction history. When I make additional investments, the portal does not log the deduction on my fund balances in real time, while the actual balances have taken place already. Sometimes it seems that your money just disappeared in thin air, although it is updated after 3 to 4 days.
Nevertheless, it is still convenient.
Incoming search terms:
- how to open a fami mutual fund online monitoring account, fami mutual funds navps, Monitor My Funds, mutual fund monitoring, first metro funds
About Nick Raquel
Hi Nick,
I’m sure you’ve dealt through this topic before and I must have missed it along the way…does cost averaging also work on mutual funds?
Yes AV, it’s applicable in mutual funds as well. Here are few case studies:
http://mutualfundphilippines.com/category/case-study/