Anil Dhirubhai Ambani Group firm Reliance Money announced its foray into Hong Kong and China with the launch of a bouquet of financial services for retail investors in these markets.
HONG KONG: Anil Dhirubhai Ambani Group firm Reliance Money on Wednesday announced its foray into Hong Kong and China with the launch of a bouquet of financial services for retail investors in these markets.
The financial product distribution firm launched operations here through a tie-up with local brokerage firm Goldride Securities, thus becoming the first Indian broking and distribution company to offer such products in this region.
"We now endeavour to reach out to the large base of Non Resident Indians (NRI) and Persons of Indian Origin (PIOs) in Hong Kong and China with our products and services and help them effectively participate in the India growth story," Reliance Money Director and CEO Sudip Bandyopadhyay said here.
Initially through this alliance, Reliance Money would be launching its broking and portfolio management services.
Besides, in Hong Kong it would also be offering a mobile portal that would allow users to get free real-time access to market information on their phones.
The portfolio management services in Hong Kong would be offered at a threshold level of as low as USD 50,000 and would enable a lot of investors, who have not been able to use these services because of high cost of entry, to opt for this services, Bandyopadhyay added.
"There are over 250 fund management companies in Hong Kong and huge assets are being invested in China and India. I hope with this deal these funds will be invested in the Indian markets," Goldride Securities Managing Director Anthony Espina said.
Reliance Money would also be offering real-time chat facility, with its experts, to get market research and guidance to take an informed decision.
Goldride Securities, which offers Internet trading to clients on the mainland and in southeast Asia, has an affiliate securities dealing company in the Philippines and has trading arrangements with brokers for Singapore and Kazakhstan.
Reliance Money, a Reliance Capital company, is part of the USD 100 billion Reliance Anil Dhirubhai Ambani Group. It provides its customers access to equities, equity options and commodities futures, mutual funds, IPOs, life and general insurance products, offshore investments and credit cards.
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