August 7, 2023: Kotak Mahindra Asset Management Company (KMAMC or Kotak Mutual Fund) today announced the launch of Kotak S&P BSE Housing Index Fund, an open-ended scheme replicating and tracking S&P BSE Housing Index.
S&P BSE Housing Index invests in companies related to the housing theme. This index diligently measures the performance of common stocks within the S&P BSE 250 large midcap index, categorised as part of the eligible common India industry classification. Constituents are weighted by float-adjusted market capitalisation, subject to a single constituent weight cap of 5%. By closely replicating this index, the Kotak S&P BSE Housing Index Fund extends diverse investment opportunities to its investors linked to the housing sector. The fund presents a cost-effective and transparent approach to capitalize on the housing theme within the Indian stock market.
The scheme opens for public subscription on August 7, 2023, and closes on August 21, 2023.
Nilesh Shah, managing director of KMAMC, said, “The introduction of the Kotak S&P BSE Housing Index Fund exemplifies our dedication to providing products that cater to diverse risk appetites and investment horizons. This fund presents a unique opportunity for investors looking to capitalize on the potential growth in the housing sector and businesses that can benefit from the real estate boom. By launching this thematic index fund, we bolster our range of passive fund offerings, enhancing our overall portfolio of investment options.”
Devender Singhal, EVP & fund manager, Kotak Mahindra Asset Management Company, said, “This fund aims to present a compelling prospect for investors seeking to capitalize on the housing sector and enterprises that stand to potentially benefit from the expansion in the real estate domain. By introducing this thematic index fund, we intend to fortify our comprehensive array of passive fund offerings, thus bestowing upon investors a multitude of empowering opportunities.”
Kotak Mahindra Asset Management Company Limited (KMAMC, a wholly owned subsidiary of Kotak Mahindra Bank Limited (Kotak), is the asset manager for Kotak Mahindra Mutual Fund (KMF). KMAMC started operations in December 1998. As of June 30, 2023, it has approximately 50 lakh investor folios in various schemes. KMF offers schemes catering to investors with varying risk-return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities. The company is present in 90 cities and has 97 branches as on June 30, 2023.
Housing News Desk is the news desk of leading online real estate portal, Housing.com. Housing News Desk focuses on a variety of topics such as real estate laws, taxes, current news, property trends, home loans, rentals, décor, green homes, home improvement, etc. The main objective of the news desk, is to cover the real estate sector from the perspective of providing information that is useful to the end-user.
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