Kotak Mutual Fund Submits Draft Papers to Sebi for Launching Three New Funds

Kotak Mutual Fund has submitted draft proposals to SEBI to introduce three new funds: the Kotak Nifty 100 Equal Weight ETF, the Kotak Nifty AAA Financial Services Bond Mar 2028 Index Fund, and the Kotak MSCI India ETF.

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Kotak Nifty 100 Equal Weight ETF

This open-ended fund aims to replicate or track the performance of the Nifty 100 Equal Weight Index. Its primary goal is to mirror the index's composition and generate returns aligned with its performance, while accounting for tracking errors. The fund will be benchmarked to the Nifty 100 Equal Weight Index (Total Return Index) and managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.

Key Details:

• Minimum Investment: ₹5,000 and in multiples thereafter.
• Asset Allocation:
• 95-100% in equities and related securities from the Nifty 100 Equal Weight Index.
• 0-5% in debt and money market instruments.

Kotak Nifty AAA Financial Services Bond Mar 2028 Index Fund

This open-ended Target Maturity Debt Index Fund focuses on securities from the Nifty AAA Financial Services Bond Mar 2028 Index, offering moderate interest rate risk and relatively low credit risk. The fund’s objective is to deliver returns that align with the index’s performance (before fees and expenses), which tracks AAA-rated financial services sector issuers maturing around March 2028.

Key Details:

Benchmark: Nifty AAA Financial Services Bond Mar 2028 Index.

Fund Manager: Abhishek Bisen.

Minimum Investment: ₹100 and in multiples thereafter.

Asset Allocation:
95-100% in securities from the Nifty AAA Financial Services Bond Mar 2028 Index.
0-5% in cash and money market instruments.

Kotak MSCI India ETF

This open-ended ETF is designed to replicate or track the performance of the MSCI India Index, aiming to generate returns consistent with the index's performance, subject to tracking errors. It will use the MSCI India Index (Total Return Index) as its benchmark and will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.

Key Details:

Minimum Investment: ₹5,000 and in multiples thereafter.

Asset Allocation:
95-100% in equities and related securities within the MSCI India Index.
0-5% in debt and money market instruments.

These new funds cater to diverse investment needs, ranging from equity-focused ETFs to sector-specific debt index funds, providing investors with varied opportunities for portfolio diversification.