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Kotak Mahindra Mutual Fund has launched an Open-Ended Index Fund, Kotak Nifty Midcap 50 Index Fund, on July 25, 2024. Aiming to replicate the Nifty Midcap 50 Index, the fund seeks to deliver returns matching the index, excluding expenses. The New Fund Offer (NFO) closes on August 8, 2024, with a minimum investment of INR 100.
The investment objective of the Kotak Nifty Midcap 50 Index Fund 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.
This NFO of Kotak Nifty Midcap 50 Index Fund is suitable for investors who are seeking long-term capital appreciation and return that corresponds to the performance of NIFTY Midcap 50 Index, subject to tracking error.
| Instruments | Indicative allocations (% of total assets) |
| Equity and Equity related securities covered by NIFTY Midcap 50 Index | 100 – 95 |
| Debt and Money Market Instruments | 5 – 0 |
The performance of the Kotak Nifty Midcap 50 Index will be benchmarked to the performance of the Nifty Midcap 50 Index (Total Return Index).
Mr. Devender Singhal has been managing the equity funds for Kotak AMC since Aug 2015. He is managing assets across multicap and hybrid strategies. He has more than 22 years of experience in fund management and equity research of which last 15 years has been with Kotak. Prior to joining Kotak AMC, He has been part of various PMS like Kotak, Religare, Karvy and P N Vijay Financial Services.
Mr. Satish Dondapati has over 16 years of experience in ETF’s. He joined Kotak AMC in March 2008 in Product’s Department. Prior to joining Kotak AMC, he was in the MF Product Team of Centurion Bank Of Punjab
Mr. Abhishek Bisen has been associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. Prior to joining Kotak AMC, Abhishek was working with Securities Trading Corporation of India Ltd where he was looking at Sales & Trading of Fixed Income Products apart from doing Portfolio Advisory. His earlier assignments also include 2 years of merchant banking experience with a leading merchant banking firm.
| Scheme Name | Launch Date | AUM (Crore) | TER (%) | 1 Yr Rtn. (%) | 3 Yrs Rtn. (%) | Since Launch Rtn. (%) |
| Tata Nifty Midcap 150 Momentum 50 Index Fund | 20-10-2022 | 406.14 | 1.02 | 65.78 | – | 40.86 |
| SBI Nifty Midcap 150 Index Fund | 05-10-2022 | 516.42 | 1.01 | 52.93 | – | 39.18 |
| Nippon India Nifty Midcap 150 Index | 15-02-2021 | 1,425.03 | 0.8 | 53.14 | 26.25 | 29.16 |
| Navi Nifty Midcap 150 Index Fund | 11-03-2022 | 174.84 | 1 | 52.25 | – | 32.7 |
| Motilal Oswal Nifty MidCap 150 Index | 02-09-2019 | 1,757.86 | 1 | 53.1 | 26.23 | 30.15 |
| ICICI Pru Nifty Midcap 150 Index Fund | 05-12-2021 | 494.55 | 0.95 | 52.59 | – | 26.41 |
| HDFC NIFTY Midcap 150 Index Fund | 21-04-2023 | 177.94 | 0.93 | 52.37 | – | 58.51 |
| Edelweiss Nifty Midcap150 Momentum 50 Index Fund | 01-12-2022 | 456.11 | 1.09 | 67.34 | – | 44.12 |
| Axis Nifty Midcap 50 Index Fund | 05-03-2022 | 351.56 | 1 | 51.36 | – | 31.97 |
| ABSL Nifty Midcap 150 Index Fund | 01-04-2021 | 222.59 | 1.01 | 53.55 | 26.4 | 29.08 |
Data As of July 24, 2024
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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