INVESTING FROM THE COMFORT OF YOUR MOBILE PHONE Old mutual has launched the i-invest product that lets you invest directly from your phone. All transactions are conducted through your mobile phone without having to visit an Old Mutual office except when closing the account. For many, investing seems like a complex affair that requires high initial investment capital and is a reserve of the rich. The fear of putting money in an investment and later losing it makes many Kenyans shy away from the financial markets. Financial advisers say you are worse off if you let your fear keep you on the investing sidelines. The best bet to a secure financial future is through investing, and this is where i-invest comes in. With an initial minimum investment capital of KES 4,800 you can invest from your phone with old mutual’s i-invest. Mutual trusts are collective investments schemes that involve pulling funds together and investing in various assets and securities. Below are four i-investment funds you can invest in from the comfort of your mobile phone. Old Mutual Equity Fund: Invests mostly in selected shares. It is ideal for investors with high risk appetite and a long-term horizon of 5-7 years. Old Mutual Bond Fund: Invests mostly in government and corporate bonds, ideal for an investor with low risk appetite and a medium-term horizon of 3-5 years. Old Mutual Balance Fund: Invests mostly in selected bonds and equities. It works best for an investor with medium risk appetite and a medium-term horizon of 3-5 years. Old Mutual Money Market Fund: Invests mostly on money instruments and is ideal for investors with very low risk appetite and a short-term horizon of 6-12 months. How it works: You need to have a Safaricom line, and credit. It costs KES 10 every time you dial *480#. The first time, you dial *480#, you’ll be prompted to register as follows: Part 1: Enter your full name, ID/Passport number, date of birth, email address and occupation. You’ll then receive an SMS confirmation. Once you get your SMS confirmation, you will need to dial *480# again Part 2: Enter your postal address, physical address and accept or decline Terms and Conditions. You will then receive another SMS providing you with instructions on how to submit a copy of your ID/Passport to Old Mutual. Part 3: Submit a copy of your ID/Passport via email, post office or drop it off at any Old Mutual Branch across the country. Once Old Mutual verifies your ID, you’ll receive an SMS containing a computer-generated PIN. Once you get an SMS with your PIN, you will need to dial *480# again. Part 4: After you enter the PIN sent via SMS, you’ll be prompted to change your PIN, following which you’ll be able to access the full OLD MUTUAL MOBILE menu. The mobile unit trust account works very much like the conventional unit trust account except that all instructions can be submitted and processed over the registered mobile phone. You can register, invest, withdraw, switch between selected funds and change static information – all via your registered mobile phone. The Minimum initial investment amount is KES 4,800, and you can top up from a minimum amount of KES 480 and withdraw from a minimum amount of KES 480. Transactions that can be carried out over the phone include: Applying for a new unit trust account Make initial investments Make top up investments Withdraw (redeem) unit trust funds Switch between funds Check balances Update your data (e-mail address, next of kin, etc) Check for more information on unit trust funds Change your PIN.
Posted on: Tue, 20 Aug 2013 10:10:16 +0000
Trending Topics
Recently Viewed Topics
© 2015