Kotak Mahindra MF introduces Nifty Financial Services Ex-Bank Index Fund
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Kotak Mahindra Mutual Fund (MF) has launched Kotak Nifty Financial Services Ex-Bank Index Fund, an open-ended scheme replicating/ tracking Nifty Financial Services Ex-Bank Index. The NFO opens for subscription on July 24, 2023 and closes on August 07 2023. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The performance of the Scheme would be benchmarked against Nifty Financial Services Ex-Bank Index (Total Return Index) and its fund managers are Devender Singhal, Satish Dondapati and Abhishek Bisen.
The investment objective of the scheme is to replicate the composition of the Nifty Financial Services Ex-Bank Index and to generate returns that are commensurate with the performance of the Nifty Financial Services Ex-Bank Index, subject to tracking errors.
