Edelweiss Financial Services launch Guided Portfolios for investors
Edelweiss GPS is powered by the internally developed proprietary asset allocation and mutual fund selection algorithm.
Edelweiss GPS is powered by the internally developed proprietary asset allocation and mutual fund selection algorithm. Based on the financial goal and risk profile of an investor, the artificial intelligence driven system selects the best performing mutual funds for the investor as per the suggested asset allocation and the internally assigned score of the selected mutual funds. The system selects mutual funds for an investor’s portfolio from a pool of best performing funds which are shortlisted from the universe of over 2000 funds based on an internal mutual fund scoring mechanism. It also periodically updates the pool basis the performance of the funds. In order to keep the investment process transparent and to allow investors to make informed decisions, the platform also highlights the key reasons behind adding the selected funds in the investor’s portfolio.
Edelweiss GPS also comprises dynamic rebalancing algorithms which keep track of changing market conditions as well as performance of the selected mutual funds. The objective behind the rebalancing strategy is to help the investors keep the best performing funds in their portfolios rather than keep making systematic investments in laggard funds.
Speaking at the launch, Mr. Rahul Jain, Head – Personal Wealth Advisory said, “Edelweiss Guided Portfolios is a digitised manifestation of systematic and time tested approach to portfolio building. We have bundled the best practices followed by mutual fund advisors to build this system. A key vision of Edelweiss has been to democratize the participation in financial markets and this initiative is a giant stride towards that vision. Our primary focus has been to keep this platform simple to understand and convenient to use so that anyone with any level of financial market expertise can transact on it. If you look at the platform characteristics in totality, an investor can build his portfolio sitting in front of his desktop or mobile; open his account in a paperless manner and start investing.”