myCAMS App Review: A limited portfolio

For our DIY investors who wish to reap the benefits of investing directly in mutual funds, we have been reviewing fintech applications in this column. In continuation with our series, here we review the app of Computer Age Management Services (CAMS) — myCAMS.

The app provides a platform for investors to transact across all participating mutual funds which have authorised CAMS to provide designated services through the app. Currently, CAMS services 16 mutual funds (of the 40-plus active AMCs).


Investors now venturing into direct MF investing can register themselves using their email id and complete the KYC process in a paper-less manner.

Existing MF investors can use the email id provided in their folio to register on myCAMS app.

Apart from investing in a new/existing folio (across participating MFs only), the app also permits users to switch between schemes (and within direct/regular schemes of the same MF), get a consolidated portfolio view, set up systematic transactions (eg, digiSIP, STP, SWP), and schedule future transactions.

What we like?

A useful standout feature in the app is the myCAMS Redemption manual, which guides investors on not just the exit load applicable (available in most other fintech apps as well), but also on the tax implications.

Besides, the app has other useful statements that can be downloaded (will be mailed to registered email id upon request). For instance, the capital gains statement provides information on long- (both with and without indexation) and short-term gains (and losses) on all your MF transactions, in a summarised form. Users can also generate this statement for up to three previous financial years.

The Pay-In & Pay-Out statement, is yet another unique feature. It summarises all your subscriptions, dividends and redemption proceeds in various MF schemes (including bank details and modes of payment/receipt). One can also view the paid or unclaimed status of redemption and dividends.

What could be better

A major reason for disappointment for the users of the app would be the limited number of mutual funds it has to offer. You will miss out on popular names such as Axis Mutual Fund, Canara Robeco MF, Mirae Asset MF and Edelweiss MF.

Not just that, these MFs are also excluded from other summarised statements.

Further, we feel providing other information such as major assets invested in, MF’s performance vis-a-vis its benchmark, details on the fund manager, and important ratios such as Sharpe, Sortino, etc, could aid investors in making a more informed decision.

Besides, quite a few existing users of the app seem dissatisfied with the app’s grievance redressal mechanism, other bugs and app crashes (based on feedback provided on Google Play Store).

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