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NFO opens on 24/07/2023; closes on 07/08/2023 |
Kotak Mahindra Asset Management Company Ltd (“KMAMC” / “Kotak Mutual Fund”) today announced the launch of Kotak Nifty Financial Services Ex-Bank Index Fund, an open-ended scheme replicating/ tracking Nifty Financial Services Ex-Bank Index.
Nifty Financial Services Ex-Bank Index will invest in the top 30 companies of the financial services sector except banks. The weight of each stock in the index is based on free float market capitalisation and are part of Nifty 500 Index. By replicating the index, the fund offers investors diverse investment opportunities across sectors such as NBFC, HFC, Insurance, Broking, AMC, and Fintech, etc. It offers a cost-effective and transparent approach to investing in the Indian stock market.
The scheme opens for public subscription on July 24th, 2023 and closes on August 7th, 2023.
Mr. Nilesh Shah, Managing Director of KMAMC said, “At Kotak Mutual Fund, we continually strive to provide our investors with diverse investment solutions. The launch of the Kotak Nifty Financial Services Ex-Bank Index Fund is aligned with our commitment to offer products that cater to different risk appetites and investment horizons. This fund provides an opportunity for investors to participate in the potential growth of the financial services sector excluding banks. With the launch of this sectoral index fund, we further strengthen our overall passive fund offerings “
For more details on the Kotak Nifty Financial Services Ex- Bank Index Fund please visit: https://www.kotakmf.com
Investors may consult their financial expert before making any investment decision.