The Economic Times has launched a portfolio manager powered by Rupeelog Financial Services, reports WATBlog. Frankly, I was quite impressed by the level of detail in the portfolio manager – which allows users to track investments in Equity, Mutual Funds, Real Estate, IPO and even ESOPs. In addition, there is a tax wizard as well, and I wonder if ET will monetize this by enabling tax filings, the way other online tax filing utilities have been doing. Another feature I liked is the ability to upload data directly from brokerages (ICICI Direct, Sharekhan, Reliance Money, Religare, Motilal Oswal, IDBI, Man Financial, etc)or an Excel sheet, hence saving users the trouble of individually importing data.
While the attention to detail is laudable (you can even store contact details for your bank and/or brokers), the service does have a high barrier to entry because of the level of detail it requires. Take a look at the forms for IPOs or ESOPS. It’ll take a lot of effort for a user to add all his investment details online, but once he’s in, he’s likely to keep using it. Some features are just an eyewash – the “Generic Research” page leads you to the relevant news section at the Economic Times website, and there isn’t enough specific information yet. Take a look at the screenshot for Reliance Mutual Fund. ET Portfolio competes with the likes of MoneyControl Portfolio Manager and Rediff MoneyWiz.
Disclosure: own shares of Network18, which owns MoneyControl