Gcash Invest Money: Review and First Impressions
I try to force myself in a state of scarcity.
If money is too easily accessible, it would be easy to spend too. When my ATM reaches six digits, I get super anxious and need to figure out to put it elsewhere soon, because my cash is never safe from shopping. (Read: How to be Frugal)
Right now due to COVID, my investment vehicle options are limited to those who offer digital or online means. With my hopes to diversify, I recently found this new product by Gcash Invest Money — where you can invest on mutual funds at the tip of your fingers.
I decided to put PHP15,000 upfront on Gcash Invest just to see for myself.
After taking the short quiz, It was seen that I am ‘moderately aggressive’, matching me with the ATRAM Peso Money Market Fund. Detaisls of the fund as of August 30, 2020:
Updated details can be gathered from UITF.com.ph
I ended up purchasing that investment vehicle with PHP 15,000 worth of units because that was the only option, but I do hope they would provide more options for funds in the future.
How to Register on Gcash Invest Money
Time needed: 10 minutes.
How to Invest via Gcash Invest Money
- Log into your GCash Account
- Tap ‘Invest Money’ on the dashboard
If it’s not in your dashboard, it may be on the ‘Show More’ section.
- Register and take the Risk Profile Questionnaire
You may need to verify your account before being able to use the feature.
- Once approved, subscribe to an investment fund
Your subscription can take up to 1-2 business days to process.
- Fund your chosen investment.
Put money in the fund. You can set a reminder and invest regularly (recommended)
- Track your investment and Redeem whenever you want.
Redemption of investment takes 2-3 business days to process.
Here’s what I thought:
Fast
You need to be a fully verified Gcash user first and foremost. I already am, so it took me only 10 minutes to register, and only 1-2 working days to have my subscription approved by ATRAM.
Convenience
The biggest advantage for me is the convenience—everything can be done digitally via your smartphoneI’ve already been using Gcash heavily as a digital wallet, so why not use it for investment too? (Also Read: Mutual Funds vs. Stocks: A Newbie’s Guide)
Accessibility
One can easily access and check the performance and growth of the fund via the Gcash app. You can also easily redeem it via the app.
Performance
Having only invested the fund for barely a month, it’s still too soon to tell. Here is the info I have gathered on the performance of the fund as of August 2020:
You can also review the Performance and Risk Profile of the fund via the app.
Gcash Invest vs. Gsave
The real honest reason why I bought Gcash Invest was to have a comparison between Gsave, another Gcash feature–but a savings account.
GSave is powered by CIMB and offers a 3.1% Interest Rate. Even if you deduct the 20% withholding tax from there, GSave still does waybetter than the return rate of 1.55%
Of course, both of them are completely different products. GSave is a savings account powered by CIMB, while Gcash is a money market fund powered by Atram. The interest rate for GSave is assured and fixed, while for money market securities they can be arbitrary and can go either way, depending on the fund’s performance.
If you’re interested to know more, read: Gcash Invest vs. GSave
Final Thoughts
I’ve only had the fund for a good month, and it has since grown by a few centavos only. Not as well as how my stocks are doing, or high interest-bearing accounts. Given the current market performance and the COVID-19 pandemic crisis, I’m not expecting much for this year.
It’s not my first and only mutual fund, and it won’t be my investment priority, but I wouldn’t get rid of it either.
Personally, I plan to employ the ‘put and forget’ strategy for this fund. I don’t plan to liquidate the fund for at least 3 years.
If this is your first time dabbling as an investor, Gcash Invest Money makes a great first low friction choice—it’s easy, fast, convenient, and accessible. If you’re already a Gcash user, it makes perfect sense to try out Gcash Invest. Good luck!
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