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ICICIdirect to offer new service

ICICI Securities has introduced Factor Based Portfolios, a risk-based portfolio advisory service on its investment platform, ICICIdirect.com. The new offerings will be available under its Equity Advised Portfolios, an investment advisory suite of products, where clients can subscribe to recommended stock portfolios based on their risk profile. The new offerings are based on MSCI’s Risk Weighted Index Methodology and MSCI’s Prime Value Index Methodology and customers can now avail of a choice of fundamental and factor based portfolio. These are fee-based services which will be exclusively available to ICICIdirect customers. Factor Based Portfolios are stock portfolios with a distinct investment strategy which are well researched and have known to provide better risk adjusted returns. Because the strategies are well defined and rule based as well as re-balanced on a specific frequency, they provide a more structured approach to stock investing for retail clients. Factor Based Portfolios have gained great prominence among investors globally. Shilpa Kumar, MD & CEO, ICICI Securities, said, based on MSCI’s well-known index methodology, the equity advised portfolio service on ICICIdirect.com is aimed at giving the company’s 4 million customers a structured way to build their portfolios and benefit from equity investments over the longer term. Chandru Badrinarayanan, ED, Head of India Coverage, MSCI APAC, said the new services demonstrates MSCI’s commitment in supporting innovative market developments in India.

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