With rising investor interest in foreign assets, leading brokerage Geojit Financial Services on Thursday launched a global investment platform to help its customers invest in American and other global assets through a single account from anywhere in the world.
Accordingly, Kochi-based Geojit has partnered with New York-based global wealth management services platform Stockal to develop an AI-powered global investment platform that will help domestic investors diversify their portfolio by investing in global equities, the brokerage said in a statement.
Quoting market data, Geojit said that since the beginning of 2020, thousands of domestic retail investors have invested over Rs 350 crore in overseas markets.
Stockdeal founder and Chief Executive Sitashwa Srivastava said his platform on an average executes nearly $2 million in transactions every day from India.
Till date, Indian investors have invested Rs 1,200 crore into equity-index ETFs, large-cap technology stocks such as Apple, Amazon, Google, Netflix, Facebook and Microsoft, Tesla, commodity ETFs like gold, silver and oil and treasury ETFs, through the Stockdeal platform, Srivastava said.
Geojit expects the platform to benefit its over 1 million customers as well as other retail investors, high-networth investors, ex-NRIs and expat IT professionals who want to invest in global assets.
The brokerage said that to begin with, it will offer access to US stocks and exchange-traded funds (ETF) and other American asset classes.
In the second phase, it will add other key global markets such as Britain, Japan, Hong Kong, Germany and Singapore.
Geojit offers one of the lowest price offerings for trading with no minimum amount balance and low commissions as well as BPS-based pricing for high AUM wealth investors and traders.
So, buying or selling shares of popular US stocks like Google, Apple, Amazon and Netflix will be more convenient on its global investment platform, it said.
Currently, Geojit offers services in over 4,000 stocks and ETFs.
In addition, it also offers its clients facilities like digital on-boarding with e-KYC, proprietary tools and algorithms, which process 8.5 million data points to help investors make informed decisions, among others.
The company has also tied up with three domestic banks to facilitate online fund remittance through liberalised remittance scheme to help investors.
Geojit Executive Director Satish Menon said that currently, investors are showing strong intent to spread risk and expand equity investment horizon across geographies.
There has been a substantial increase in demand from HNWIs, retail investors and those who track global equities for investing in global equities.
"Our global investment platform will help them explore investment opportunities in well-regulated markets and build risk-adjusted global investment portfolio. With us, investing in global market becomes as effortless as investing locally,” Menon said.