First Global

What First Global does

First Global is a privately-held, India-based investment management and advisory firm founded in 1993 by Devina Mehra with Shankar Sharma as co-founder. The company offers portfolio management services (India PMS), global investing advisory and fund products, global fixed income products, wealth management, and broking and trading services, complemented by the FG-HUM Smallcase for retail investors. Its core technology is a proprietary "Human+ Machine InvestTech Model" that combines AI-ML quant strategies with human fund management experience, supported by the FG Exo Tech platform which powers systematic rebalancing for its smallcase offering. The firm claims a 32% CAGR over 20 years for its India PMS (Rs. 100 grown to Rs. 29,471) and reports funds under management of approximately ₹208.17 crore.

The firm serves three primary customer segments: high-net-worth individuals seeking global diversification, non-resident Indians (NRIs) and foreign citizens accessing global fixed income and equity products, and retail investors accessing professional strategies via the FG-HUM Smallcase. Revenue is generated through management fees (charged monthly on average daily AUM), performance fees subject to hurdle rates and high watermark, brokerage and statutory charges, and subscription fees on its smallcase and advisory products. Minimum investments range from Rs. 50 lakhs for India PMS to $50,000 for global fixed income products. Distribution is conducted via direct advisory sales for HNW and NRI clients, alongside digital self-serve channels (online trading platform and smallcase) for retail.

First Global operates through four legal entities — First Global Finance Pvt. Ltd., First Global Stockbroking Pvt. Ltd., First Global Securities Pvt. Ltd., and First Global AIF Trust — and is regulated across multiple jurisdictions including SEBI in India (stock broker INZ000210739, PMS INP000006697, research analyst INH000004635), FCA in the UK, SEC in the US, and CIMA in the Cayman Islands. The firm is led by Founder and CMD Devina Mehra and Vice Chairman Shankar Sharma, with Neeraj Khanna serving as CEO of the stockbroking entity. Headcount is reported at 251-500 employees with a head office in Vashi, Navi Mumbai, and the firm has received coverage from major global publications including the Wall Street Journal, Barron's, Bloomberg BusinessWeek, MarketWatch, Fortune, and Forbes.

Name

First Global

Legal name

First Global Finance Pvt. Ltd.

Website

https://firstglobalsec.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

First Global is a privately-held India-based investment management firm founded in 1993, offering portfolio management, global investing advisory, fixed income, wealth management, and trading services to high-net-worth individuals, NRIs, and retail investors using a proprietary AI-ML quant investment model.

Ownership category

akta.pro rank

Product category

Investment Management & Portfolio Management Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910), Other Investment Pools and Funds (5259), Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Global/International & Emerging Markets Mutual Funds (FSAAAEAK)

akta.pro secondary industries

International/Ex-U.S. Developed Equity (Active) (FSAAAIAE), Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Portfolio management services
• Wealth management
• Global investing advisory
• Fixed income funds
• Stock broking services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Portfolio Management Services (PMS): First Global manages discretionary and non-discretionary portfolios for clients with minimum investment of Rs. 50 lakhs. Revenue is generated through a combination of management fees (charged monthly on average daily AUM) and performance fees based on returns exceeding hurdle rates with high watermark principle.
2. Global Fixed Income Products: Advisory and fund products for non-resident Indians and foreign citizens starting at $50,000 minimum investment, generating fees through advisory charges and fund management.
3. Stock Broking Services: Equity cash and derivatives trading, commodities trading, and foreign exchange services. Revenue generated through brokerage and statutory charges (assumed at 0.2% as per fee calculator).
4. Smallcase (FG-HUM): Self-serve multi-cap stock basket product for smaller investors, providing curated stock lists with periodic rebalancing.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

First Global provides discretionary and non-discretionary Portfolio Management Services (India PMS and Global Investing), Global Fixed Income Advisory & Fund products for NRIs and foreign citizens, comprehensive Wealth Management, stock Broking and Trading services, and the FG-HUM Smallcase offering for retail investors. Investment decisions are driven by a proprietary Human+ Machine InvestTech Model that combines AI-ML Quant Strategies with 30+ years of fund management experience to construct risk-adjusted portfolios.

Product overview

First Global operates as a multi-product investment management firm offering an integrated platform of wealth solutions. The core offerings include India PMS (India Super 50 and Multi-Asset Allocation Portfolio with 32% CAGR over 20 years), Global Investing Advisory & Fund for international equity exposure, Global Fixed Income products starting at $50,000 for NRIs and foreign investors, and discretionary Wealth Management services. These are complemented by Broking & Trading services (equity, derivatives, commodities, FX) and the FG-HUM Smallcase for retail investors seeking a curated Indian equity basket. The firm differentiates through its Human+ Machine InvestTech Model, combining AI-ML Quant Strategies with fund management experience to reduce the role of luck and increase skill in investment outcomes.

Differentiator

Problem solved

Functional benefit

Brands

• FG-HUM (First Global Human + Machine Model): A curated multi-cap stock basket smallcase offering for small and mid-size investors, featuring 25-30 stocks driven by FG Exo Tech with risk-adjusted returns.

Products and services

• India PMS (FG-IS50 and FG-IMAAP) Portfolio Management Services for Indian equities offering two schemes — FG-IS50 (India Super 50) and FG-IMAAP (India Multi-Asset Allocation Portfolio) — with a reported 32% CAGR track record over 20 years. Combines data-driven analysis with fund management experience to construct portfolios aligned with defined investment objectives and risk frameworks, available with a minimum investment of Rs. 50 lakhs per SEBI regulations.
• Global Investing Advisory & Fund Global equity investment advisory and fund products enabling international diversification across asset classes, countries, industries, and companies. First Global has practiced global investing for over 20 years, leveraging its proprietary Human+ Machine InvestTech Model to construct globally diversified portfolios for clients seeking exposure beyond India.
• Global Fixed Income Advisory & Fund Fixed income investment products targeting Non-Resident Indians and foreign citizens with a minimum investment starting at $50,000. Offers two variants — an advisory product and fixed income fund products — providing access to fixed income strategies that were previously available only to ultra-high-net-worth investors via private banks with $1 million minimums.
• Wealth Management Comprehensive wealth management services combining Big Data Science and Artificial Intelligence with 30+ years of investment experience. Built on four mantras including data-driven Tactical Asset Allocation, offering structured wealth management through disciplined processes and advanced analytics for risk-adjusted outcomes and long-term capital preservation.
• Broking and Trading Equity cash and derivatives trading, commodities trading, and foreign exchange services offered through First Global Stockbroking Pvt. Ltd. The service emphasizes value-based advisory over zero/low brokerage approaches, with a technology and innovation-driven investment style and online account opening.
• FG-HUM Smallcase A curated multi-cap stock basket of 25-30 stocks designed for small and mid-size investors, driven by the proprietary FG Exo Tech platform. Diversified across sectors, typically rebalanced every 3 months with a focus on risk-adjusted returns, and distributed via the smallcase platform. Not available to US customers.

Quantifiable outcome

• 32% CAGR over 20 years for India PMS; Rs. 100 grown to Rs. 29,471
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature3 records

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• IIFL Wealth Management: Large Indian private wealth platform offering PMS, AIF, and global advisory products. Comparable on cross-border investing, multi-product structure, and HNI/NRI client segments, though at much larger scale.
• Geojit Financial Services: India-based investment services firm with PMS, broking, and NRI-focused global investing products, comparable on multi-product and NRI client focus.
• Motilal Oswal Wealth Management: Indian PMS and wealth management provider offering discretionary portfolio management to HNIs and NRIs, with a multi-decade track record and similar product breadth across PMS, broking, and global investing.
• Anand Rathi Wealth Management: Listed Indian wealth manager with PMS, AIF, and distribution capabilities serving HNI families; directly comparable on product mix, regulatory footprint, and HNI client focus.
• PhilipCapital (India): Multi-jurisdictional wealth and PMS provider with India operations serving HNI/NRI clients via discretionary portfolio management and global advisory, comparable regulatory breadth.
• ASK Wealth Advisors: Boutique Indian wealth and PMS firm focused on HNI/UHNI clients with discretionary and advisory mandates, comparable in scale, regulatory registration, and founder-led positioning.
• Sharekhan Wealth Management: Indian broking and wealth management firm offering PMS, trading, and advisory across HNI and retail; similar mid-market positioning with technology-driven advisory.

Broad incumbents

• Kotak Wealth Management: Bank-led wealth management arm offering PMS, advisory, and broking to UHNI and HNI clients; broader portfolio including lending and banking products, competing for the same NRI/HNI wallet.
• HDFC Securities: Bank-affiliated broker and PMS provider offering portfolio management and advisory to HNI/mass-affluent clients; broader scale and product portfolio but overlapping on PMS and broking.

Emerging players

• Zerodha (smallcase): India's largest discount broker and operator of the smallcase platform, which hosts First Global's FG-HUM offering. Represents the emerging self-serve, technology-first competitive threat in Indian wealth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/sharer/sharer.php?u=https://www.firstglobalsec.com
• Xx.com/firstglobalsec

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Global