Kochi-based monetary providers agency Geojit mentioned on Thursday that it has partnered with US-based wealth administration providers platform Stockal to launch a worldwide funding platform, which is able to present providers for the US markets. The platform will present buying and selling providers in devices comparable to US equities and exchange-traded funds via a single account. The Artificial Intelligence-powered international funding platform will allow traders to deal in US-listed shares of Apple, Facebook, Google, Microsoft, and Netflix with ease, Geojit mentioned.
In a press launch, Geojit Financial Services mentioned it is going to add different key international markets, together with the United Kingdom, Japan, Hong Kong, Germany and Singapore, to the platform quickly.
The product is aimed it enabling clients put money into the US markets and various international belongings via a single account from wherever on the planet, Geojit mentioned.
The platform will profit greater than 10 lakh Geojit Financial Services clients in addition to home retail traders focused on international belongings.
Geojit mentioned it is going to additionally provide its purchasers amenities comparable to digital on-boarding with e-KYC (Know Your Client), proprietary instruments and algorithms which course of 8.5 million knowledge factors to assist
The portal has tied up with three banks in India to facilitate on-line fund remittance via the Liberalised Remittance Scheme (LRS), which permits residents to freely remit as much as $2,50,000 per monetary yr for permitted present 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,” mentioned Satish Menon, government 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 belongings have been in nice demand in India for final one yr, Geojit Financial Services mentioned, including that 1000’s of retail traders within the nation have invested over Rs.350 crore in abroad markets to this point this yr.