Geojit Financial Services, as part of its portfolio management services (PMS), has launched Dakshin, a new multi-cap portfolio, that will invest only in stocks of 25 growth companies that are headquartered in the five south Indian states.
According to a statement issued by Geojit, Dakshin will be a diversified equity-based, open-ended multi-cap growth portfolio with a minimum subscription limit of ₹25 lakh.
The portfolio will be based on a customised index — MSCI South India Domestic High Quality 25 Index — constructed by global agency MSCI Inc for Geojit, it added.
Further, each stock included in the fund will carry equal weight in the PMS scheme, which, the company claims is the first-of- its-kind portfolio offered in India.
“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,” said Satish Menon, executive director, Geojit.
“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 this PMS scheme,” he added.
