Standard Chartered launches GlobeInvest

Mumbai:    Standard Chartered has launched GlobeInvest a scheme that enables the Indian investor an opportunity to access international funds. The offering comes on the heels of a RBI regulation, which allows Indians to invest abroad to the tune of $25,000.

According to the bank, GlobeInvest will focus on international mutual funds, as opposed to international short-term deposits, for interest rates in most OECD countries are lower than comparable Indian risk-free rates and the net yield to the investor would be much less.

GlobeInvest, according to the bank, demystifies the international investing process and presents an opportunity for the investor to seek new investment destinations, such as China. It also allows the investor to invest in less volatile OECD markets.

Standard Chartered says that its international experience of fund manager evaluation, mutual fund ratings and extensive relationships with leading international fund managers will allow investors to cherry pick the best mutual funds across various geographies. The Bank will also use its experience in identifying the most tax-friendly funds.