ICICIdirect clients can now invest in portfolios made up of US equities
ICICI Securities, which operates ICICIdirect – a virtual financial supermarket, has partnered with US investment advisor ‘Interactive Advisors’ to offer curated portfolios of international stocks, based on models compiled by leading global fund managers for domestic retail investors. . This means ICICIdirect clients can now invest in portfolios made up of U.S. stocks and exchange-traded funds or ETFs, according to a statement the company shared today.
ICICIdirect offers investment, protection and lending products. The merger will allow clients to invest in portfolios composed of ETFs and US stocks – managed by Interactive Advisors, based on the models developed by well-known global fund managers such as State Street Global Advisors, Global X- by Mirae Asset, Legg Mason ( acquired by Franklin Templeton Investments), among other portfolio managers.
According to the statement, there are already more than 70 theme-based portfolios available for investors to choose from on ICICIdirect.com. The actively managed portfolios offer a variety of US stocks and ETFs.
Investors can choose portfolios based on their risk tolerance. The portfolios with themes such as technology, smart beta, healthcare, etc. are managed by the US investment manager based on extensive research and financial analysis. In August 2020, ICICIdirect launched a global investment facility for its retail clients in partnership with US-based Interactive Brokers.
“Following the successful launch of our Global Investments offering, which enabled our investors to invest in a fully digital way in markets such as the US, UK, Singapore, Japan, Germany and Hong Kong, many clients have asked us for a facility where she could have experts guiding them for better investment decisions,” said Mr Anupam Guha, Head of Private Wealth Management, ICICI Securities.
“These are actively managed portfolios and will therefore come with features such as rebalancing. We are confident that this facility will also resonate with investors with a low risk appetite,” he added.
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Limited – the second largest private lender in the country. On Wednesday, August 18, shares of ICICI Securities were up 0.67 percent at Rs 717.50 apiece on the BSE.
Meanwhile, it was recently reported that NSE International Exchange – a wholly owned subsidiary of the NSE – will soon allow Indian-based investors to trade some US stocks, making Wall Street-listed shares more affordable for Indian retail investors.
