NFO opens on 25-July-2024; closes on 8-August-2024
FinTech BizNews Service
Mumbai, 25th July, 2024: Kotak Mahindra Asset Management Company Ltd (“KMAMC” / “Kotak
Mutual Fund”) has announced the launch of Kotak Nifty Midcap 50 Index Fund, an open-ended
scheme replicating or tracking the Nifty Midcap 50 Index. The scheme opens for public subscription
on July 25th, 2024, and closes on August 8th, 2024.
The Nifty Midcap 50 Index comprises the top 50 midcap stocks selected from the Nifty Midcap 150
Index based on their full market capitalization, with preference given to companies that are tradable
in NSE’s Future & Options segment. By including a mix of top midcap stocks from various sectors under
the Nifty Midcap 150 Index, this index provides focused representation of the midcap segment. It
offers a relatively cost-effective and transparent way for investors to participate in the Indian stock
market, providing exposure to well-known midcap companies.
Nilesh Shah, Managing Director of Kotak Mahindra AMC, said, "At Kotak Mutual Fund, we continually
strive to provide our investors with diverse investment solutions. The launch of the Kotak Nifty Midcap
50 Index Fund aligns with our commitment to offering active and passive products that cater to
different risk appetites and investment horizons. While Midcap 50 Index presents a mixed landscape
with varying opportunities across sectors, this index fund allows investors to gain focused exposure to
a select group of top midcap companies within Nifty Midcap 150 Index. This index fund facilitates
investors to capitalize on the potential of the midcap segment. However, it is important to be
cognizant of proper asset allocation of your investments before investing.”
Devender Singhal, Executive Vice President & Fund Manager, Kotak Mahindra AMC said, "The Kotak
Nifty Midcap 50 Index Fund is an addition to our passive product line-up, catering to investors’ interest
in India's Midcap space. Midcaps play a crucial role in key sectors of our economy, from Capital Goods
and finance to Healthcare and Information Technology. While individual Midcap stocks may exhibit
varying performance, this index-based approach allows investors to potentially benefit from the
overall growth and innovation potential of the mid-sized companies.”
