Set up Gnucash to fetch or retrieve Online Mutual Fund Quotes (India Mutual Funds)

If you are a user of Gnucash http://www.gnucash.org, you have options to enable it to retrieve online mutual fund quotes. Here we will see how to retrieve the Indian Mutual Fund Schemes quotes. Gnucash is an open source, cross-platform, operating system independent, personal finance manager. It works on Linux, Windows and Mac. Explained below is an example of how you can enable it to retrieve mutual fund quotes from on line sources and view the latest value of your mutual funds using it’s Advanced Portfolio report. If you want to install Gnucash on a Windows computer, see this post.

Listed below is an example to demonstrate to you how the setup is done.

  1. My mutual funds name is Reliance Natural Resources Fund and it is listed on the stock markets in India. The quotes for it are available for retrieval from the AMFI (Association of Mutual Funds of India) at this linkhttp://www.amfiindia.com/navreport.aspx. You can see the file that is used by IndiaMutual.pm perl module of Gnucash at this link http://www.amfiindia.com/spages/NAV0.txt. We use this to find the 6 digit mutual fund scheme code.
  2. Start Gnucash and click on the menu options: Tools -> Security Editor.
a. You will now see the Security Editor window as in Ilustration 1.
Illustration 1: SecuritiesClick on the Add button to add your Mutual Fund to the Securities List.
b. Upon clicking the Add button in Illustration 1, you will see the dialog as in Illustration 2.Security Information Dialog
Illustration 2: Security Information

In the dialog box as shown in Illustration 2, you should enter the following information:

Full Name:

This is the full name of the Mutual Fund whose units you own.

Symbol/abbreviation:

Enter the code of the mutual fund. You can find out this code from the AMFI web site at this link http://www.amfiindia.com. I got the code for the Reliance Natural Resources Fund using the method explained at this post http://www.askmeaboutlinux.com/?p=1761 from this text file http://www.amfiindia.com/spages/NAV0.txt on the AMFI website. The symbol for Reliance Natural Resources Fund that I have is 107636. Enter that in this box.

Type:

This should be INDIAMUTUAL. If you do not see a type for INDIAMUTUAL in the drop down, you can directly type it in here, also.

ISIN, CUSIP or other code:

You can leave this blank.

Fraction traded:

This will be 1/1000 for Reliance Natural Resources Fund. Sometimes, you can trade fractional amounts, and you should enter 1/<fraction> depending up to how many decimals you want for fractions. Normally, fractions default to 1/1000.

Quote Source Information:

Tick the box Get Online Quotes.

Type of Quote Source:

This for Reliance Natural Resources Fund that we entered. Select “Multiple” and choose India Mutual (AMFI…. If you have mutual funds in India, you should choose IndiaMutual as the source.

Now click the OK button to add the entry.

c.

In the previous step, we set up the Security in the Security Editor. Now we have to add Edit the Stock (Mutual Fund) Account and point to it.

Go the the main account display of Gnucash and select the Reliance Natural Resources Mutual Fund. Select Edit and then Edit Account from the Gnucash main menu. You will see a screen similar to Illustration 3 below:


Illustration 3: Edit Account

Enter the following information for the fields as shown in Illustration 3 above.

Security/Currency:

Click on the Select… button next to the Security/Currency: field. Upon clicking select, you can choose Type as INDIAMUTUAL and choose 107636 from the list that it shows. This field actually picks up all the values from the Securities dialog that we entered in Steps a. and b. above.

Now, click the OK button to save the changes. Move to step d. to test your settings.

d.

This step shows you how to retrieve the latest online prices for the mutual funds you entered.

Select Tools and then Price Editor from the Gnucash main menu. This will show a dialog as in Illustration 4 below:


Illustration 4: Price Editor – get Online Quotes

Click on the Get Quotes button to fetch the online quote for the Reliance Natural Resources Fund. Once this step is done, click the Close button and from the Gnucash main menu select Reports then Advanced Portfolio to see your mutual fund’s value.

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