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Kotak Mahindra Mutual Fund has launched Kotak Nifty Midcap 50 Index Fund, an open-ended scheme replicating/tracking the NIFTY Midcap 50 Index. The NFO opens for subscription on July 25, 2024 and closes on August 08, 2024. No Entry Load shall be charged for the scheme. The exit load is nil for the scheme. The minimum subscription amount is Rs 100/- and any amount thereafter.

The performance of the Scheme will be benchmarked with Nifty Midcap 50 Index (Total Return Index) and its fund managers are Devender Singhal, Satish Dondapati and Abhishek Bisen.

The investment objective of the scheme is to provide returns that, before expenses, corresponding to the total returns of the securities as represented by the underlying index, subject to tracking errors.