Geojit Financial Services launches first of its kind multi-cap portfolio

Geojit Financial Services has launched a new multi-cap portfolio -- Dakshin -- that will invest only in stocks of 25 companies headquartered in the five south Indian states. "This portfolio is based on the customised index -- MSCI South India Domestic High Quality 25 Index -- constructed by global agency MSCI Inc, for Geojit.

"Each stock included in the fund will carry equal weight. This is the first of its kind portfolio offered in India," Geojit said in a release on Wednesday. Dakshin would be a diversified equity based, open-ended, multi-cap growth portfolio with a minimum subscription limit of Rs 25 lakh, and it would be benchmarked against broader index, Nifty 500. The companies, whose stocks are part of the index, are headquartered in Karnataka, Kerala, Andhra Pradesh, Telengana and Tamil Nadu.