Investment services company Geojit Financial Services, as part of its 'Smartfolios' product, has launched two unique equity indexes based on the custom indexes created by MSCI, which has been at the forefront of index construction and maintenance for more than 50 years, launching its first global equity indexes in 1969.
These curated model portfolio baskets, specially created for Geojit by MSCI are: Select, which is based on MSCI India Domestic IMI Select sub industries index; and LMS, which is based on MSCI India Domestic IMI Select 30 index.
The Smartfolios Select basket represents securities from selected Global Industry Classification Sector (GICS) sub-industries like 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 which consists of 30 securities with a selection of 10 securities from each market cap segment of large, mid and smallcap. 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 the large, mid and smallcap 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 two new Smartfolios baskets, based on custom indexes created by MSCI, offer our clients a choice of investment strategies. Each index basket has its own unique features and based on risk appetite and investment horizon, our customers can select the basket. Now, we have 14 Smartfolios baskets, each offering investment options to the investors depending on their investment appetite and the financial goals they want to achieve,” said Jones George, Executive Director, Geojit.