Kochi-based financial services firm Geojit said on Thursday that it has partnered with US-based wealth management services platform Stockal to launch a global investment platform, which will provide services for the US markets. The platform will provide trading services in instruments such as US equities and exchange-traded funds through a single account. The Artificial Intelligence-powered global investment platform will enable investors to deal in US-listed stocks of Apple, Facebook, Google, Microsoft, and Netflix with ease, Geojit said.
In a press release, Geojit Financial Services said it will add other key global markets, including the United Kingdom, Japan, Hong Kong, Germany and Singapore, to the platform soon.
The product is aimed it enabling customers invest in the US markets and diverse global assets through a single account from anywhere in the world, Geojit said.
The platform will benefit more than 10 lakh Geojit Financial Services customers as well as domestic retail investors interested in global assets.
Geojit said it will also offer its clients facilities such as digital on-boarding with e-KYC (Know Your Client), proprietary tools and algorithms which process 8.5 million data points to help
The portal has tied up with three banks in India to facilitate online fund remittance through the Liberalised Remittance Scheme (LRS), which enables residents to freely remit up to $2,50,000 per financial year for permitted current or capital account transactions.
"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 high net worth individuals, retail investors and those who track global equity investment markets for investing in global equities," said Satish Menon, executive director, Geojit Financial Services.
"Our AI-enabled and insights-driven global investment platform will help them explore investment opportunities in well-regulated markets and build risk-adjusted global investment portfolio," he added.
Global assets have been in great demand in India for last one year, Geojit Financial Services said, adding that thousands of retail investors in the country have invested over Rs.350 crore in overseas markets so far this year.
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