Mutual funds

Hi, I’m Nora, Pinnora’s animated guide.

In this video, you’ll learn how mutual funds work in Pinnora.

We’ll find a fund, read its page,

and buy some by the dollar.

Then we’ll look at your holding,

and how to sell it or send it.

Open Home. In the row at the top,

tap “Mutual Funds”.

The first card is now your “Mutual Funds Balance”.

It’s the value of all the funds you hold.

Alex, our sample member, holds $200.00 in one fund so far.

Scroll down to “Top trending mutual funds”.

Each row shows a fund’s latest price.

Let’s open VFIAX, the

Vanguard 500 Index fund.

This is the fund’s page. At the top is its latest price,

and how much it has changed over the range shown.

Notice that the chart opens on one month, not on one day.

Tap “1D”, and Pinnora explains why.

A mutual fund is priced once a day,

after the market closes. So it has no chart for the day.

Choose a longer range instead, such as “1Y”.

Touch and drag along the chart,

to read the price on earlier dates.

Further down, “Key stats” lists the fund’s facts.

For this fund, that’s its share class, its type,

and that it’s priced daily. What’s listed depends on the fund.

To invest, tap “Buy” at the bottom of the fund’s page.

It’s the same sheet you use for shares.

It’s a market order, so it goes through straight away,

at the current price.

You buy by the dollar, so you don’t need a whole share.

$100 comes to about 0.14 shares.

Tap another amount, and the estimate updates. Alex tries $250,

then goes back to $100.

If you let go early, nothing is bought.

When you’re ready, press and hold the “Hold to confirm” button for one second,

while it fills.

“Order placed”. Alex bought $100.00 of the fund,

at the price shown.

Tap “Done”. Then scroll down the fund’s page,

to “Your VFIAX history”.

It shows how much of the fund you hold, what it’s worth,

and each transaction.

Back on Home, under “Mutual Funds”,

your balance now includes the new fund.

Swipe across, and there’s a card for each fund you hold.

Your funds sit in your trading account.

Pinnora also sends you a notification.

Tap the bell to see it.

Selling works the same way. Here,

Alex opens the Fidelity 500 Index fund, and taps “Sell”.

If you ask for more than you hold,

Pinnora tells you, and you can’t confirm.

So Alex picks $50 instead.

Then press and hold to sell. The money from a sale goes to your trading account,

in US dollars.

A few things worth knowing.

Funds can’t be withdrawn outside Pinnora.

The Withdraw screen lists only dollars and crypto,

and a note underneath says what you can do instead.

You can sell the fund first. Or send it to a Pinnora member,

with “Send” on the fund’s card.

A fund can only go to a member.

The other two routes are for US dollars only,

or for crypto only.

And remember, a fund’s price can go down as well as up.

Now you know how mutual funds work in Pinnora.

Find funds on Home, under “Mutual Funds”.

A fund is priced once a day, so it has no day chart.

Buy by the dollar, then press and hold to confirm.

Sell the same way, or send a fund to a Pinnora member.

Need help? Chat with us in the app,

or e-mail helpdesk@mypinnora.com.

Thanks for watching. See you next time.