Geojit Financial Services has launched a global investment platform to “help its customers invest in the US markets and diverse global assets through a single account from anywhere in the world”, it said.
The Mumbai-headquartered firm, which has a strong presence across the GCC, has partnered with New York-based wealth management services platform Stockal to develop the platform.
Geojit says it “will benefit more than 10 lakh customers, as well as Indian retail investors, high net worth investors, ex-NRIs and expat IT professionals who want to invest in global assets”.
The investment options currently focus on the US stock market, but Geojit said it will soon add other markets such as the UK, Japan, Hong Kong, Germany and Singapore.
There is no minimum account balance and commissions are described as “low”, although no further details were provided.
‘Effortless’ investing
Geojit executive director Satish Menon commented: “For over three decades, we have been offering an extensive range of trading and investment products and solutions that are effective and futuristic.
“At present, the 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 equity investment markets for investing in global equities.”
He said that, since the start of 2020, thousands of retail investors have poured over INR3.5bn (£36.4m, $47m, €40.4m) into overseas markets.
Menon added that the Geojit platform means “investing in global markets becomes as effortless as investing locally”.
