Axis Securities, the retail broking and investment advisory services subsidiary of Axis Bank, on Tuesday launched ‘AxisDirect Investment Kit’ in order to help investors manage money simpler and benefit large pool of retail investors.
“We hope to raise the awareness among the large pool of retail customers on the need to have a trusted financial advisor and increase equity ownership as part of household financial savings with this launch,” Director of Axis Securities, Nilesh Shah told reporters in Mumbai.
As per the broking firm, equity ownership constitutes only under six per cent of the domestic household’s financial wealth excluding against 45 per cent in United States.
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It also said that despite significant rise in market indices in last two decades, domestic investors were not able to reap the benefit while FIIs had made money.
“Every sphere of occupation — be it salaried, businessman, professional or an agriculturist, has witnessed growth in personal savings, yet dominant part of these savings is locked in fixed deposits, life insurance, gold and real estate,” Mr. Shah said.
Axis Direct Investment Kit will help in investment in various instruments like equities, mutual fund, IPOs, bonds, NCDs, ETFs and SIPs through online route, he added.
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“This will help us reaching to more retail investors,” Mr. Shah said.
As per the bank, the investment kit will enable customers to purchase the investment account initially in select branches of Mumbai, which will then available in more than 1,000 branches of Axis Bank.