I have been searching for a Portfolio management website/software for a few months now but have been unable to find anything that meets my needs. Hence I was wondering if this forum could provide some suggestions?
I am OK to pay for the software. Following are my main requirements:
1. The software should provide XIRR/CAGR for each of my investments and the portfolio as a whole so that I know how each of my investments is performing
2. It should allow for bulk upload of data either as Mutual fund / DP statements or as an Excel sheet.
3. It should automatically download NAVs and stock prices
Below are the websites / software that I have tried and my opinion of them.
Money control: I have used it right from the time it became available. Even though it does not offer XIRR/CAGR I continued using it because I had already invested a lot of time and effort in it (I have been entering information in it for many years). However, last year, some of my MF and stock information magically vanished from the site never to return. I wrote to moneycontrol but they never responded so I gave up on the website. I was in no mood to enter all the data again (Moneycontrol does not have any bulk upload feature) without any guarantee that it would remain intact
Excel: After the bad experience with moneycontrol, I tried using MS Excel for some time. However, it is effort intensive and time consuming as I have to enter transaction information, NAVs and stock prices manually. I cannot use it to quickly check my portfolio performance as I would have to first enter latest prices
Microsoft Money: This product is no longer supported by MS but a sunset version is available for free download on its website. I downloaded it and tried it. However, Auto price and NAV update no longer works. Some of the other features also no longer work so I uninstalled it
GNU Cash: This is an open source software. I installed it and spent many days playing with it trying to understand how it works. Software is not very easy to use and I would not recommend it to any one who does not have hours to spend fiddling with software
Investplus: Does not provide XIRR/CAGR
Valuesearchonline: Does not support statement / bulk data upload hence very time consuming. After my bad experience with moneycontrol, I am hesitant to spend time typing all transaction information into a website
Banyanfa: Same issue as Valuesearchonline
easylife: Does not provide XIRR/CAGR, so it did not meet my requirements
Perfios: One of the best features of this site is the statement upload utility. It is a breeze to use. Site is very user friendly and offers many nice features. It also has XIRR for MFs. However no XIRR/CAGR for other types of investments. The site comes very close to meeting my requirements but not quite there yet. Once it starts offering XIRR/CAGR for all types of investments, I will be its biggest fan 🙂
MProfit: Among all the websites and software that I tried after moneycontrol, I spent the most time with MProfit. The software meets all my requirements! The MProfit support is also very helpful. I got an error while using the trial software and wrote to them. Some one (Kiran, I think) from their support team called me to understand the issue and provided a workaround for the error. He was also kind enough to provide a demo of the software via remote access. So I am very impressed with the software features and the IT support. The software is not as user friendly as Perfios, but that is not a major issue for me. The biggest drawback of the software is its unreliability. The first two bugs that I faced, the MProfit team quickly fixed them or provided a work around. I knew they were bugs because I got error messages. The third bug did not give any error message and I only happened to notice the issue when I was verifying some of the reports generated by it. I had the uploaded CAMS + Karvy MF statement. The software did not show any error message and the txns were uploaded. Only later did I notice that some of the transactions in the statement had not been picked by the software and hence my XIRR was wrong. This I did not report to MProfit as I did not wish to continue using a software that I would have to constantly check to make sure it was working correctly.