CHENNAI, SEP 20 : Leading investment services company, Geojit Financial Services, as part of its Smartfolios product, today launched two unique equity indexes based on the customed indexes created by MSCI.
Geojit has been at the forefront of index construction and maintenance for more than 50 years, since launching its first global equity indexes in 1969.
These curated Smartfolios baskets, specially created for Geojit by MSCI are Select, which is based on MSCI India Domestic IMI Select sub industries index and LMS based on MSCI lndia Domestic IMI Select 30 index.
The Smartfolios Select basket represents securities from selected Global Industry Classification Sector (GICS) sub industries like food retail, department stores, distillers and vintners, diversified support services, financial exchanges and data, internet and direct marketing retail, footwear, movies & entertainment, interactive media & services, and interactive home entertainment.
It has a minimum investment amount of Rs five lakhs, according to a press release here.
The Smartfolios LMS basket, on the other hand, is a stock index which consists of 30 securities with a selection of 10 securities from each market cap segments of large, mid and small cap.
The minimum investment amount is Rs 10 lakhs and is exclusive for Geojit retail customers.
The benchmark for both exclusive indices is the MSCI Domestic IMI index, the parent index, which measures the performance of the large, mid and small cap segments of the domestic market.
“Our two new Smartfolios baskets, based on customed indexes created by MSCI, offer our clients a choice of investment strategies. Each index basket has its own unique features and based on risk appetite and investment horizon, our customers can select the basket. Now, we have 14 Smartfolios baskets, each offering investment options to the investors depending on their investment appetite and the financial goals they want to achieve,” Jones George, Executive Director, Geojit, said.(UNI)