Edelweiss Financial Services today announced the launch of its robo advisory service called Edelweiss Guided Portfolios (Edelweiss GPS) for investors, said a press release issued by the company.
Edelweiss GPS is an algorithm based intelligent system which designs mutual fund portfolios for investors and guides them towards their financial goals through systematic investments.
Based on the financial goal and risk profile of an investor, the artificial intelligence driven system selects the 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 funds which are shortlisted based on an internal mutual fund scoring mechanism. 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.
In the press release, Nitin Jain, CEO, Global Asset & Wealth Management, Edelweiss Financial Services said, “This platform is designed to make investment appear simple and intuitive to everyone; even, a first time investor can navigate through the platform with ease and build his portfolio. The platform has different sections catering to various investor sets, be it experienced investors or the new ones.”
Rahul Jain, Head – Personal Wealth Advisory, Edelweiss Financial Services 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.”