Geojit Financial Services launches equity baskets based on MSCI indexes


NEW DELHI: Geojit Financial Services has launched two unique stock indices based on custom indices created by MSCI as part of its Smartfolios product.

These curated model portfolio baskets, created by MSCI specifically for Geojit, are: – Select, which is based on the MSCI India Domestic IMI Select sub-industry index; and LMS, which is based on the MSCI India Domestic IMI Select 30 index.

According to the press release, the Smartfolios Select basket represents securities from selected sub-industry sectors of the Global Industry Classification Sector (GICS) such as grocery retail, department stores, distilleries and winemakers, diversified support services, financial exchanges and data, internet and direct marketing retail, footwear, films and entertainment, interactive media and services and interactive home entertainment.

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The Smartfolios LMS basket, on the other hand, is an equity index composed of 30 stocks with a selection of 10 stocks from each of the large, mid and small cap market cap segments. The basket is exclusive to Geojit retail customers, according to the company.

The benchmark for both exclusive indices is the MSCI Domestic IMI Index, the parent index measuring the performance of the large, mid and small cap segments of the domestic market.

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“We are pleased to make our index expertise available and to help Geojit meet the needs of investors looking to increase their equity exposure to 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 selection of indices becomes increasingly important for Indian and international institutions that invest or operate in the country.”

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“Our two new Smartfolios baskets, based on MSCI custom indices, offer our clients a choice of investment strategies. Each index basket has its own unique characteristics and our clients can choose the basket based on their risk appetite and investment horizon. Now we have 14 Smartfolios baskets, each offering investors investment options based on their investment appetite and the financial goals they want to achieve,” said Jones George, Executive Director, Geojit.

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