Edelweiss Asset Management has introduced a mutual fund investing mobile app to help investors manage their financial transactions, reported LiveMint.

Dubbed eInvest, the app features a mutual fund savings account called Insta Money having an instant withdrawal facility to the registered bank account.

The app will also allow users to purchase transaction in any fund, redeem, begin a systematic investment plan (SIP), and track transaction status at all times.

In addition, eInvest will help investors analyse fund details, including fund performance, portfolio holdings, important risk parameters.

It also comes with features that will help users track portfolio value, growth and compare with market movement over a time duration.

“The app will provide easy access to SIP investments, fund information for investors to weigh, understand and ascertain a good option of investment available to them,” Edelweiss’ press statement reads.

In recent times, the practice of investing in mutual funds via digital wallets is gaining ground.

With Insta Money, Edelweiss aims to help investors make instant investment while providing them with the option to redeem the same amount in case of an emergency.

Edelweiss Asset Management CEO Radhika Gupta said: “People are getting inclined towards investing in mutual funds more confidently than they were 10 years ago. Technology has made it possible to take the industry to the next level.

“As we embark upon our digital transformation journey our mobile app launch is another step in that journey. The app is designed to bring greater convenience for mutual fund investors to access their investment from anywhere at any time with speed and ease.”