Comments
Geojit Financial Services, as part of its portfolio management services (PMS), has launched a new multi-cap portfolio — Dakshin — that will invest only in stocks of 25 growth companies that are headquartered in the five southern States.
This portfolio is based on the customised index — MSCI South India Domestic High Quality 25 index constructed by global agency MSCI Inc, for Geojit. Each stock included in the fund will carry equal weight. This is the first of its kind portfolio offered in India.
Satish Menon, Executive Director of Geojit, said: “Conservative investors from South India generally look at equity as a risky investment instrument and hence, prefer investing in companies that they know very well and trust. In order to meet this growing demand from such investors who wish to focus their equity investment to South India-based companies, Geojit has launched a PMS scheme called Dakshin.”
Dakshin will be a diversified open ended multi-cap growth portfolio with a minimum subscription limit of ₹25 lakh. The portfolio will be benchmarked to the broader index Nifty 500.
The custom index designed by MSCI for Geojit is constructed from a universe of select corporates headquartered in Karnataka, Kerala, Andhra Pradesh, Telengana and Tamil Nadu out of the MSCI India Domestic IMI Index. The index will filter out securities with full market capitalisation of less than ₹50,000 crore, and based on many other quality parameters.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.