by Suman Gupta
Mumbai, 6th February, 2023: Kotak Mahindra Asset Management Company Ltd (“KMAMC” / “Kotak Mutual Fund”) today announced the launch of Kotak Banking & Financial Services Fund, an open-ended equity scheme investing in the Banking and Financial Services sectors.
The scheme opens for public subscription on February 6th, 2023 and closes on February 20th, 2023. Investors can invest a minimum amount of Rs 5,000 and subsequently in multiples of Re.1 for purchase and Re 0.01 for switches during the NFO period. The investment objective of this actively managed sectoral fund is to generate long term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services sector. However, there can be no assurance that the investment objective of the scheme would be achieved.
Banks are a significant part of the banking and financial services segment and are generally seen growing at 1.5 to 2.0 times the rate at which the economy grows. Hence, a continued growth momentum in the economy is likely to aid this sector going ahead.
Among the key features, the fund offers diversification opportunities within the segment, including investment in banks, non-banks, insurance, broking, asset management, and fintech. Besides, the fund would also look for investment opportunities across all market caps and sub-sectors in the banking and financial services space. As a part of the key investment metric, the fund manager would have a bottom-up approach in identifying companies with strong fundamentals using the Business, Management, Valuation (BMV) approach.
Past performance may or may not be sustained in future. For more details on the Kotak Banking & Financial Services Fund please visit: https://www.kotakmf.com/
Investors may consult their financial expert before making any investment decision.
Source: AMFI, SEBI, IRDAI RedSeer report, Life Insurance Council, ICICI Securities, World Bank Data 2020
About Kotak Mahindra Asset Management Co. Ltd.: 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 and as of 31st December 2022, has approximately 46.9 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 85 cities and has 90 branches as of 31st December, 2022.
