Nuvama (Edelweiss) Mutual Fund Review

Nuvama Wealth and Investment Limited is a stock brokerage firm providing trading and investment services in equity, derivatives, currencies, mutual funds, gold ETFs, and IPOs. The company has more than two decades of experience in serving investors with various financial products and services. Edelweiss offers mutual funds through Nuvama Wealth and Investment Limited and Edelweiss Asset Management Limited (EAML). Customers can buy direct mutual fund schemes (only of Edelweiss) from EAML while Edelweiss Broking offers regular mutual funds from more than 40 fund houses.

Edelweiss MF offers different mutual funds across equity, debt, hybrid, and ETFs to match with the specific financial needs of the investors.

Features of Edelweiss Mutual Fund

• Offers both regular and direct mutual funds (only of Edelweiss)
• Multiple in-house mutual fund schemes to invest across different sectors
• Offers schemes from more than 40 fund house through a single platform
• Start your mutual fund investment with as low as Rs 500
• Specific goal-based schemes such as Edelweiss Retirement Plan with life stage based asset allocation
• Offer a Systematic Transfer Plan where you can transfer investment periodically from one scheme to another
• Edelweiss Mutual Fund offers Power STP as a unique feature to switch the schemes at the perfect time

Edelweiss Mutual Fund Online Charges

Edelweiss Mutual Fund Account Opening Process

Opening a mutual fund account with the Edelweiss Asset Management company depends on whether you want to invest only in an in-house mutual fund or other mutual funds as well. Both have a separate process to start investing in mutual funds. When you want to invest in Edelweiss Mutual Fund direct scheme, you need to-

• Visit EAML's website www.edelweissmf.com and click on invest now.
• Enter PAN number
• Enter OTP/password
• If you're already KYC (Know Your Customer) compliant then the system will pull all the information and an account will be created.
• If you're not KYC compliant then a 'KYC details not found' window will appear on your screen
• Fill the details and user name will be created by default. Click 'Continue'.
• Upload scanned copies of identity proof, and address proof, check the details generated from the OCR and correct them if required.
• Upload a cancelled cheque, check the consent box to credit the account for verification. Check SMS sent by your bank for the credited amount and enter the 'amount' and click verify.
• Enter personal information, check on various declarations and upload your signature.
• Activate your device's camera for photo capture
• Activate your device's camera for video verification. Hold your PAN card in front of the camera with your face clearly visible on the screen and read the digits that appear on the screen.
• E-sign with the signature uploaded.
• Review and confirm.

For investing in mutual funds offered from different fund houses with Nuvama Wealth and Investment Limited, you need to open a trading and demat account with the broker. This account can also be used to invest in various other segments like equity, derivatives etc.

Steps to open Edelweiss Mutual Fund Account online

• Visit 'Open an Account' tab on the website or mobile app
• Mention your mail id, PAN number, and DOB for KRA verification
• Add the personal details
• Enter the bank details
• Choose a brokerage plan
• Upload the documents
• Complete In-person verification process

Edelweiss Asset Management Ltd also allows offline account opening facility which can be availed by visiting the bank branch and completing the process there. Edelweiss offers the same account to invest in equity, derivative, currency, and mutual funds. The status of holdings with Edelweiss can be checked in the 'holdings' section of your account.

Edelweiss SIP

Like many other fund houses and distributors, Edelweiss also provides mutual fund investing either through SIP or lump sum mode of investment. SIP is like recurring deposits where you invest a sum of money on a regular interval without being affected by the market conditions. Edelweiss Mutual Fund offers a power SIP feature that allows you to invest a pre-decided amount at the right time in the market.

Features of Edelweiss Mutual Fund SIP

• Start investing in a SIP with as minimum as Rs 500
• Change the frequency of investment and amount any time
• Use auto-debit option to invest in mutual fund SIP automatically
• Offers different SIP plans such as power SIP, multi-goal SIP, and Top-up SIP
• Invest in Edelweiss Mutual Fund SIP through the website or mobile app
• Edelweiss Mutual Fund helps investors in calculating returns, SIP amount, and Tenure for a particular financial goal before starting investment.

Steps to use Edelweiss Mutual Fund Calculator

• Select the SIP as an investment mode
• Choose from growth or dividend plan
• Select the Mutual Fund Scheme
• Select date, investment amount, frequency, etc
• Calculate the investment value and total returns

Edelweiss Mutual Fund Investment Platform

If you are an existing equity investor with Nuvama broker, you can also invest in a mutual fund from the same account and investment platforms.

Edelweiss Mobile Trader

The app offers an investment opportunity to invest across equity, derivatives, commodity, and mutual funds. You can also track all your investments across different sections from one comprehensive section of the app.

Key Features of Edelweiss Mobile Trader

• Create a watchlist and track the performance of the fund
• View mutual fund recommendations
• Get all latest market-related news in the app
• Get information about upcoming, and about to come new fund offers
• UPI transfer facility in a secure environment
• Steps to Download Edelweiss Mutual Fund App
• Visit the official website of Edelweiss
• Click on Mobile Trader link available at the bottom of the page
• Click on App Store or Google Play link
• Click on install button and get it downloaded

TX3

TX3 is a desktop-based platform of Edelweiss. It is a free platform and can be accessed through the same login id and password provided by Edelweiss while opening the account.

Key Features of Edelweiss Mutual Fund Desktop Platform

• Allows investment across different segments from a single account
• Check portfolio of your investment in real-time
• Get technical and financial information with comprehensive market section
• View recommendation offered by a dedicated research team at Edelweiss
• Customize the workspace as you want

Steps to Download TX3

• Visit Nuvama official website
• Click on TX3 available at the bottom of the page
• Click on Download for Equities link
• Get it on your desktop
• Login with the user ID and password

Nuvam Advantages

• In-house mutual fund schemes
• Offers mutual fund schemes from other fund houses as well
• Investing in Edelweiss Mutual Fund Direct Scheme is just a 2 step process
• Doesn't charge account opening and brokerage for mutual fund
• Offers Desktop and Mobile based investment platform
• Allows investment across different categories through a single account

Edelweiss Disadvantages

• Doesn't offer a dedicated investment platform for regular mutual fund
• Charges commissions on schemes offered by other fund houses
• You need to open a trading and demat account for investing in Edelweiss mutual fund regular schemes

Edelweiss Mutual Fund Customer Care

Edelweiss Mutual Fund offers dedicated customer care support. You can contact customer support on 1800 425 0090 (toll free number) or +91-40-23001181 (Non-toll free number). Investors can also mail at emfhelp@edelweissfin.com for any mutual fund related queries. For trading and demat account opening for mutual fund investments, you can call on 1800 102 3335 or mail at helpdesk@edelweiss.in.

Conclusion

Edelweiss offers the opportunity to invest in direct mutual fund schemes of edelweiss AMC and regular schemes from more than 40 fund houses. If you want to invest in Edelweiss Mutual Funds, then edelweissmf.com is the best platform to invest as you are investing directly with AMC and will save on commissions. You also have a choice to invest in schemes of other mutual fund houses. However, you need to open a trading & demat account and also have to pay commissions.

Frequently Asked Questions

Nuvama (Edelweiss) Competitors Review

Information on this page was last updated on Thursday, November 23, 2023