Investors in Kangra can start to invest in Mutual fund through multiple options available. You can choose a trustworthy mutual fund distributor Steadrow Capitals. You can also choose from the AMCs present in Kangra like HDFC Mutual funds, Nippon India Mutual funds, UTI mutual funds, or if you prefer to stick with your existing bank, they can also provide you with mutual fund investment. Apart from these local options, other options are online platforms which are available nationally to everyone but with no physical presence.
If expertise and reliability is your priority and you need a physical presence you can trust, then Steadrow capitals could be a good choice. They have strong physical presence in Dharamshala which is conveniently reachable from the Kangra city.
Average Mutual fund AUM of Himachal Pradesh is almost 21,000 Cr. And Kangra plays a vital role in it. With growing AUM, investment options increase as well.
Let’s explore options available to investors in Kangra with their pros and cons. This article will specifically be helpful for any new investor trying to start their investment journey.
Investing Context in Kangra
Working population in Kangra are mostly people working in government departments, army personnel and business owners. Kangra is unique in many ways but when it comes to investing, it is more or less similar to the rest of the country.
People in Kangra generally prefer stable jobs and that also shows in their investment preferences.
Since Kangra is a massive tourist hub, there are many people associated with hospitality business. Directly connected through airport, it becomes an automatic destination of choice for many tourists. This results in flourishing tourism business. Many people run their hotels, restaurants, homestays and many other businesses to cater these tourists. Shri Bajreshwari Devi Temple is another major destination for people across the country. All this resulting in a big tourism industry. An easy connectivity to airport along with the popular destinations like Dharamshala, palampur, mcleodganj, Dharamkot, Bir etc makes Kangra centre of tourism in this region.
Being in tourism business brings one specific thing in terms of finances. Even though you can earn good but you always have to be on your toes since the income is seasonal. Conservative nature of people here makes them keep their savings as their first priority always. This priority to savings was first evident to me from my parents. And I have noticed that the most of the people here are no different. They prefer stability first.
Banking has penetrated pretty well inside Kangra region in the past decade or so. I have seen it go from a few branches of only the major banks to now countless options available now. These banks have always been a preferred choice for people here. Especially the ones from the previous generation.
But there is a considerable change now. People are now exploring more options. Beyond bank savings. They are actively investing in Mutual funds, SIP and not just restricted to bank FD. One of the reason for this is the falling FD rates.
People in Kangra have always been respectful towards education and this shows in their willingness to learn about financial terms as well. Financial literacy has grown reasonably. Hence, resulting in many investment options now, catering to the requirement and curiosity of the people.
Let’s move ahead to the process of starting to invest in Kangra.
When starting your investment journey, you need to know a few things. You are not supposed to become fluent in every financial terms right away but still there are some things that you must know.
From your time horizon to your risk tolerance to your investment goal. All these help you a lot when making the decisions. We would recommend you get a little familiar with these things before you go ahead. This will help you and your investment advisor in making right decisions.
You can make use of other articles here to get familiar with these things.
What Options are Available for Investors in Kangra?
After deciding that you want to start investing, the first thing you would think is where can I start with? Below are the options you can choose from when starting to invest in Kangra.
- Invest through STEADROW CAPITALS
When we first start our job or business we want to start investing as well but we all have limited time plus a life to live. Most people generally do their research to know a few things about investment but they still don’t feel confident enough.
In such a case, it becomes important to have a reliable option that can help you invest wisely.
Easiest option for such a case is Steadrow Captials (Civil lines, Dharamshala). A reliable AMFI registered mutual fund distributor. Partnered with all the major AMCs, providing most of the investment categories, Steadrow helps investors in crafting a long term investment portfolio focused on the investor risk and goals. While also providing the managing support with regards to those investments.
While other mutual fund distributors may just provide you with the ability to start investment, Steadrow Capitals make building and managing portfolio, part of the same package. This also includes the same for SIPs. Steadrow has a regular review and monitoring system that allows them to make adjustments whenever it is necessary.
What Makes Steadrow Capitals Stand out:
- Strong track record: In the capital markets since 2016. This constitutes many volatile periods in the Indian markets including COVID-19 crash.
- Registered & Qualified: The Steadrow team certifications include NISM V-A, NISM XXI-A, and NISM XIII. Registered with AMFI makes for a very reliable choice.
- Wide variety of AMCs and investment options: Empaneled with almost every major AMC, allows them to provide access to a wide range of mutual fund investment. This is also applicable with the type of investments like Mutual funds, SIP, SIF, and PMS.
- NRI Expertise: They have strong NRI client base and understand the complications of NRI investors.
- Online + Offline: Complete investment process and transactions can be done without any physical visits. However, they have a physical presence at Kacheri, Dharamshala, which is conveniently reachable from Kangra city. Making them a preferred choice for both physical and online.
- Regular Monitoring: Instead of just starting SIP and letting you on your own to manage it, their approach includes portfolio monitoring the investment throughout the time horizon. While also making sure to do opportunity-based investing as the market changes.
- Goal Targeted Investments: Helping investors choose mutual fund investments as per their specific goals. Whether it is creating wealth for your family, a dream retirement or children’s education.
- Invest Through AMCs
Kangra is home to CAMs office and with that comes a lot of AMC offices as well. These are the Mutual fund companies directly providing their services to the investors.
To name a few, UTI mutual fund, Nippon Mutual fund, HDFC mutual fund all operate from their offices in Kangra. There are other AMCs working in the city as well but without the physical office for now.
Investors can directly contact AMC through their phone, email or just visit their office and get their investments done.
Advantage: You save on some expense ratio as they mostly provide you with just direct mutual funds.
Drawbacks:
Similar to the bank, they are naturally supposed to provide you with mutual funds of only one AMC, their own. This is even more deep when you’re dealing with direct AMCs because they simply don’t have the provision to provide mutual funds from other companies. This obviously limits your options and you could miss out on better funds from other companies.
- Investing Through Banks
These days banks have strong penetration throughout Kangra. And it would be safe to assume that most of the people in Kangra have bank accounts. If you see the previous generation, the most preferred instrument has been bank FDs. Apart from that, most of the people have used their savings account at some point.
SBI being one of the earliest in the city to provide banking. But in current times you will see almost all the major banks providing their services in Kangra. PNB, HDFC Bank, ICICI Bank, Axis Bank, Yes bank and many more.
Across Kangra these banks have physical presence through multiple branches and provide their customers with mutual funds also.
Their main positive to an investor is that they already have a bank account and other formalities done, and often times it feels easier to just invest through the current bank itself.
Drawbacks:
- It will still be your responsibility to check if the bank staff provides you with the necessary expertise or not. Banks have their brand value to maintain but sometimes their staff is notorious to shift work places every few years. So it becomes completely your responsibility even if you are being assisted by them. From understanding the investments, charges and their risks.
- Banks can provide you with multiple AMCs but we can expect them to push their own brand’s mutual funds more than others. It is only natural for them to do it but it limits your options as an investor
- Invest via Online Platforms
Like the rest of the country, investors in kangra can also choose online platforms. They have made investing so much convenient to investors and it is impossible to not mention them.
For investors who understand everything about investing, have time to research and track all the investments regularly on their own, these are fantastic options. They allow investors to do everything online.
Drawbacks:
- You are on your own. From selecting your investment to monitoring them, everything will be completely your responsibility. This forces you to give sufficient time to your investment research regularly even if you are busy with your work and life.
- Lack of physical presence is also another issue that might bother some of the investors. Currently they lack any physical office in Kangra and do not provide any option for one on one meetings.
- Other MF Distributors
Kangra has grown a lot in terms of investments and that has resulted in a lot of independent mutual fund distributors working around the city.
Investors come across them through their relatives, friends and other acquaintances.
On the surface it might seem trustworthy to investors but it is not enough basis for all of your investment decisions.
Below are the points you need to go through when you are dealing with mutual fund distributors:
- Is he AMFI registered?
- Verify their ARN?
- What is their investment approach?
- What are the reasons for them recommending a particular investment?
- Can they explain what the exact risks associated with the funds being recommended are?
- How much is he going to charge?
- How will they monitor your investments?
- What can you do with your investment if they go missing?
AMFI allows you to verify through the ARN number if the distributor is registered or not. Investors can use it before trusting anyone who came through a relative or a friend as a mutual fund distributor.
So, What is the best way to invest in Kangra?
- For a reliable point of contact with proper guidance — Steadrow Capitals
- For just one mutual fund company — AMC office
- For FD and other bank products — Bank (HDFC, SBI, PNB…)
- If you know everything about investing — Online platforms
Each option has its own advantages and disadvantages. The point is to understand which one suits you the best. We have tried to cover all the aspects a new investor should know when trying to start their investment journey. This article will help you make the right choice for yourself as an investor.
For new investors, Steadrow Capitals provides some major advantages since their seamless process handles everything such as KYC, investment selection, monitoring and tracking throughout the investment journey, while their expertise makes sure investors know what they are investing in and why they are doing so.
Frequently Asked Questions About Investing in Kangra
Can I reliably start a SIP in Kangra without physical visit?
Yes, but it depends on the platform you choose. Options like Steadrow Capitals provide complete online and offline presence while other options like banks might require you to visit physically.
How can I start investing in mutual funds from Kangra?
If you are first starting out and want guidance for your investment decisions then Steadrow Capitals can be a preferred choice in Kangra. But if you have already attained complete expertise in investment then online platforms provide very convenient options. You can approach your bank, nearby AMC office or other MFDs to help you with investments,
Can retired government employees in Kangra invest in mutual funds?
Yes, retired professionals can take advantage of the investment options in Kangra. However, the risk appetite of retired individuals is different than what it would be for someone who just started their work journey. Choosing option like Steadrow Capitals can be helpful since they have specific approach to the retirement investment and not the “one size fits all” solution.
Can I do one on one meeting with a mutual fund distributor in Kangra ?
Yes. All the investment distributors that operate locally should be able to allow this. Steadrow Capitals serve investors with completely online plus offline presence and are available for meeting appointments. On the other hand, Banks, AMC offices are available for appointment for meetings as well.
Can I invest in mutual funds through my existing bank in Kangra?
Yes, you can start investing directly through your existing bank. Banks provide Mutual funds along with their other products. Investors should do their own research before investing to make sure the recommended products from the bank are fit for them.
Investment Disclaimer: Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. Past performance does not guarantee future returns. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice, a recommendation, or a guarantee of returns. Investors should consider their own financial goals, risk appetite and investment horizon, and consult a qualified professional where appropriate. Mutual fund investments made through a mutual fund distributor are generally through Regular Plans, where the distributor may receive commission from the AMC. Investors should understand the applicable costs and the difference between Regular and Direct Plans before investing.
Holding the NISM Series V-A certification, Himanshu is a Partner at Steadrow Capitals. Backed by over ten years of equity market experience, he helps investors make informed financial decisions utilizing strictly goal-oriented strategies.