As part of its Smartfolios product, Geojit Financial Services has launched two unique equity indexes based on custom indexes created by MSCI, which has been at the forefront of index construction and maintenance for more than 50 years.
The curated portfolio baskets are: Select, which is based on the MSCI India Domestic IMI Select sub-industries index; and LMS, which is based on the MSCI lndia Domestic IMI Select 30 index.
The Smartfolios Select basket represents securities from select Global Industry Classification Sector (GICS) sub-industries such as food retail, department stores, distillers and vintners, diversified support services, financial exchanges and data, Internet and direct marketing retail, footwear, movies and entertainment, interactive media and services, and interactive home entertainment.
The Smartfolios LMS basket, on the other hand, is a stock index that consists of 30 securities with a selection of 10 securities from each market cap segment -- large, mid and small cap. The basket is exclusive for Geojit retail customers.
The benchmark for both exclusive indices is the MSCI Domestic IMI index, the parent index, which measures the performance of large, mid and small cap segments of the domestic market.
“We are delighted to provide our index expertise and help Geojit meet the needs of investors looking to increase their equity exposure in India,” said Douglas Walls, Head of Index Products APAC, MSCI.“ As more investors use index data and tools to support their investment decisions, a more diversified choice of indexes become increasingly vital to Indian and international institutions investing or operating in the country.”
“Our Smartfolios baskets offer our clients a choice of investment strategies. Each index basket has its own unique features and customers can select a basket based on risk appetite and investment horizon. Now, we have 14 Smartfolios baskets, each offering investment options depending on investors’ investment appetite and their financial goals,” said Jones George, Executive Director, Geojit.