Kotak Mahindra Mutual Fund launches Manufacture-in-India scheme
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Mumbai, 2nd February, 2022: Having confidence in India's growing manufacturing sector, Kotak Mahindra Asset Management Company Ltd. (Kotak Mahindra Mutual Fund) today announced the launch of Kotak Manufacture-in-India Fund - a scheme that will invest in India’s listed firms engaged in manufacturing activities. This includes companies that directly engage in manufacturing activities, export goods being manufactured in India with potential to increase employment, firms benefiting from the government's manufacture in India initiatives, businesses that aid manufacturing of new age technology solutions and companies that invest in new manufacturing facilities.
Nilesh Shah, Group President & Managing Director, Kotak Mahindra Asset Management Company Ltd. said, "India missed the manufacturing bus in the 1980s. We did excel in services like software to become back office to the world. Now, with China+1 becoming a geopolitical imperative, it is an opportune time for us to expand the manufacturing sector and improve our export market share. With this NFO we hope that this renaissance of manufacturing will be captured in our portfolios and investors can benefit by participating in India’s growth story.”
The NFO is an open ended equity scheme, following the manufacturing theme, benchmarked to Nifty India Manufacturing Total Return index and will remain open for subscription for investors from February 1 to February 15, 2022.
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