Kotak Mahindra Asset Management Company Ltd has launched Kotak S&P BSE Housing Index Fund for investors interested in growing their wealth by investing in companies operating in the housing segment.
Kotak S&P BSE Housing Index Fund is an open-ended scheme replicating/tracking S&P BSE Housing Index. The scheme opened for public subscription on August 07th, 2023 and will close on August 21st, 2023.
In a statement, the AMC said 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, categorized as part of the eligible common India Industry Classification.
It further said that the constituents are weighted by float-adjusted market capitalization, 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.
Also Read: Mutual funds: Should you bet on a new fund offer?
“The fund presents a cost-effective and transparent approach to capitalize on the housing theme within the Indian stock market,” the AMC said.
Commenting on the New Fund Offer, Nilesh Shah, Managing Director of Kotak Mahindra AMC said, “At Kotak Mutual Fund, our relentless pursuit is to offer our investors a wide array of investment solutions. 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,” he added.
Devender Singhal, EVP & Fund Manager, Kotak Mahindra AMC said, “The launch of the Kotak S&P BSE Housing Index Fund is in harmony with our steadfast dedication to providing a range of products tailored to suit various risk appetites and investment timeframes. 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,” he added.
Investors should, however, note that past performance may or may not be sustained in future. The sectors mentioned do not constitute any kind of recommendation and are for information purposes only. Investors should consult their financial advisors before making any investment decision.
Disclaimer: The above content is based on a press release by Kotak AMC. The article is intended for informational purposes only. Mutual Fund investments are subject to market risks. Please consult your financial advisor before investing.