NGEN Research launched NGEN Markets in September 2017 as a premium research and analytics platform focused on Indian Mutual funds and multi asset portfolios.
Their first client was L&T Wealth, who signed up in Dec 2017. As they initially focussed only on Institutional clients, the next sign ups were Edelweiss and a few other large stock broking companies. NGEN did not focus on retail advisors and wealth managers (IFAs) early on as their geographical spread was a challenge for the small team of NGEN.
However, the advent of COVID in early 2020 saw a big change in the behavior of IFAs when digital marketing became the focal point of all business. This change forced NGEN to alter their strategy to focus more on Retail IFAs. This started off with online demos and the geographical challenge was met with ease as hundreds of advisors started signing up without the need for physical sales meetings and began using NGEN Markets for all their Mutual fund research needs.
The retail segment had many benefits: payment was always in advance, logins were selling very quickly and most importantly, there was a wave of new suggestions and feedback from the IFAs. NGEN worked round the clock to bring in updates incorporating most of these suggestions to create one the best financial research and analytics platform to server retail advisors and wealth managers in India. This feedback loop proved immensely valuable as it came straight from the end users of the product – this slowly morphed NGEN Markets into exactly what the IFAs wanted.
Today NGEN Markets is used by more than 1000 IFAs across 70 locations in India alongside an enviable institutional client list including DBS Bank, Yes Bank, South Indian Bank, SBI MF, DSP MF and many more.
NGEN has now started to venture out to the UK market and launched a 100% London based subsidiary called NGEN Markets Private Limited and they are currently preparing to launch a UK version of NGEN Markets in the second quarter of 2023.
We will keep an eye on NGEN Markets as it grows within and beyond the Indian market.