NFO opens on 12th Feb 2024 and closes on 26th Feb 2024
by Suman Gupta
Mumbai, February 12, 2024 – Kotak Mahindra Asset Management Company Ltd (“KMAMC” / “Kotak Mutual Fund”) has announced the launch of the Kotak Technology Fund. It is an Open-Ended Equity Scheme investing in Technology & and technology-related sectors that offer investors an exciting opportunity to participate in the dynamic and rapidly evolving technology sector.
Technology has gone through a revolution. It has simplified lives; it has changed products, services and businesses through disruption.
Indian companies are well placed in the new tech environment with companies expanding their Offerings to the New Age Services, like Cloud, AI, Fintech, Cyber Security, or Engineering research and development (ER&D). India’s leadership in the data revolution offers a substantial market opportunity.
Data also suggests that IT spending growth globally has been structurally strong over the last decade and more, within that IT services spends have been consistently rising. 8 out of Top 10 IT service companies globally are INDIAN (Source: NSE/BSE/Recognized Stock Exchange). The Kotak Technology Fund aims to capitalise on these dynamics showing significant growth potential.
Nilesh Shah, Managing Director of KMAMC, said, “Investing in technology is no longer a choice, but a way to stay ahead in the rapidly evolving global landscape. Technology plays a pivotal role in driving the India growth story forward. The Kotak Technology Fund aligns with the increasing importance of the technology sector & provides the investors an avenue to participate in its growth potential.”
With a keen focus on companies showing growth at reasonable valuations, the fund adopts a bottom-up stock picking approach, backed by in-house research with no market cap restrictions.
Ms. Shibani Kurian, Fund Manager for Kotak Technology Fund, and Head- Equity Research, KMAMC said, “The sector is witnessing tailwinds with the advent of multiple new technologies, increased consumption in day to day lives and Enterprise technology adoption. Even in the face of global uncertainty, Indian IT companies have delivered margin performance, increasing ROE profile and strong cash flows with high dividend payouts (Source: KMAMC Internal Research). Our goal is to not only ride the wave but to navigate it skilfully, fostering value creation for our investors over the long term with Kotak Technology Fund.”
The New Fund Offer (NFO) for Kotak Technology Fund opens on 12th Feb 2024 and closes on 26th Feb 2024. Investors can participate with a minimum investment amount of Rs 100/- and any amount thereafter. Additionally, investors have the option to invest through a Systematic Investment Plan (SIP) starting at Rs Rs. 100/- and any amount thereafter . For detailed information on Kotak Technology Fund and to explore investment opportunities, please visit our official website: https://www.kotakmf.com.
Past performance is not indicative of future results. Investors are advised to consult their financial experts and tax advisors to determine the suitability of the product. Kotak Mahindra Asset Management Company Limited does not guarantee or promise any returns. The portfolio and its composition are subject to change based on market conditions. For detailed features of the Scheme, please refer the scheme information document (SID).
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 30th September 2023, has over 56 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 92 cities and has 100 branches as of 31st December 2023.