Kotak Mahindra Asset Management Company Limited launches Kotak BSE PSU Index Fund
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Kotak Mahindra Asset Management Company Ltd (“KMAMC” / “Kotak Mutual Fund”) announced the launch of Kotak BSE PSU Index Fund, an open-ended scheme replicating or tracking the BSE PSU Index. The scheme opens for public subscription on July 10th, 2024, and closes on July 24th, 2024.
BSE PSU Index currently comprises of 56 PSU stocks selected from the BSE 500 Index1. The index comprises a diverse range of public sector undertakings spread across various sectors. The Fund provides a relatively cost-effective and transparent way to invest in the Indian stock market, offering investors diversified exposure to public sector enterprises.
Mr. Nilesh Shah, Managing Director of KMAMC, commented on the launch, "At Kotak Mutual Fund, we continually strive to provide our investors with diverse investment solutions. The launch of the Kotak BSE PSU Index Fund is aligned with our commitment to offer products that cater to different risk appetites and investment horizons. While PSU stocks present a mixed landscape with varying opportunities across sectors, this index fund allows investors to gain broad exposure to the PSU segment. This fund provides a structured approach to PSU investing, allowing investors to participate in the potential of this segment passively while managing risks through diversification”.
Devender Singhal, Executive Vice President & Fund Manager, Kotak Mahindra AMC added; "The Kotak BSE PSU Index Fund represents an important addition to our product lineup, catering to investors interested in India's public sector enterprises. PSUs play a crucial role in key sectors of our economy, from energy and finance to defense and infrastructure2. While individual PSU stocks may exhibit varying performance, this index-based approach allows investors to potentially benefit from the overall growth and reforms in the public sector. As India continues its economic trajectory, this fund offers investors a chance to be part of that journey through a comparative cost-effective and systematically managed investment vehicle."
Past performance may or may not be sustained in future. For more details on the Kotak BSE PSU Fund please visit: https://www.kotakmf.com
Investors may consult their financial expert before making any investment decision.
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