Mprofit is a portfolio management tool for Indian Investors. While a lot of online tools are available for portfolio management, Mprofit is a desktop client that needs to be downloaded and maintains your data locally itself.
Mprofits has the following set of features different from the usual softwares available:
- Create multiple portfolios and manage each of them into multiple groups.
- Manage assets like Stocks, MFs, ETFs, ULIPs, Insurance Policies, Private Equity, FDs, Bonds, PPF, Gold, Silver, Property, Art.
- Online update of BSE stock prices, Mutual Fund NAVs and ETFs
- Quick Summary view with multiple sorting options by name or current value
- Summary & detailed transaction wise Capital Gain Tax Reports for Stocks & MF
- Tax Calculator
The usage is intuitive though there were few glitches during installation. Some of the above features are really useful for heavy users. For stocks i believe it does not show live rates but that of previous day closing, which is a turn off.
While they claim that local data storage decreases security threat as you are in full control but i think the very premise of having a desktop client is questionable. The high frequency users such as portfolio mangers and brokers generally have a PMS tool built-in in the trading software. The low frequency users also either use a free online tool like the one from Moneycontrol, ET etc. or have the PMS as part of the trading tool. Having a paid tool that is not portable wouldn’t make much sense. There may be a very small segment of users who might find it useful and wouldn’t mind paying as well.
The software is priced at Rs.300 (one time) + Rs.99/month.
Do give a MProfit a spin and share your views. They do have a 30 day free trial plan.
[Naman is a startup enthusiast and has worked with couple of Indian startups as Product Manager. He is the founder of FindYogi]