Globalise, a new brokerage and wealth management firm, with focus on global equity and fund investments through the liberalised remittance scheme (LRS) route has been launched. It will allow Indian investors to invest directly in as many as 4,000 international stocks.
Globalise is founded by a group of ex-bankers and wealth/investment managers. It claims to focus on a guided global investment model that makes investing in global bluechips and other asset classes accessible for domestic investors.
Viraj Nanda, chairman of Globalise, said that the mission is to bring borderless financial access to clients in India and connect them to the global resources they need to be financially successful.
“Our services are catered towards ensuring Indian investors can invest in the world’s most innovative companies not listed in India, participate in top US IPOs, and buy into emerging themes while being able to lower risk and hedge against rupee depreciation,” Nanda, a Deutsche Bank veteran, said.
Globalise expects to have assets under management (AUM) of over USD 2 billion by 2024, of which at least USD 400 million would be in US stocks such as Apple, Tesla, Google and Amazon.
All an interested party needs to do is open a demat account through them in the US. While any capital gains will not be taxed in the US but only in India, the investor will have to pay a flat 25 per cent in taxes to the US government on any dividend payout, Nanda said. He added that personalised news feeds will be provided to help investors.
Nanda said investing in global stock and funds help an investor minimise the risks and diversify their asset class portfolio as they handhold the investors with better investment advise.
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