Kotak Nifty India Tourism Index Fund NFO Details in Hindi | Finance Fit

Kotak Nifty India Tourism Index Fund NFO Details in Hindi | Finance Fit

Kotak Mutual Fund has launched the Kotak Nifty India Tourism Index Fund, an open-ended scheme designed to replicate or track the Nifty India Tourism Index. The new fund offer (NFO) is open for subscription until September 16, and the scheme will reopen on or before September 30.

The aim of this fund is to provide returns that mirror the performance of the underlying index, before expenses, while accounting for tracking errors. The fund will be benchmarked against the Nifty India Tourism Index (TRI) and managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.

The minimum investment amount for both lump sum and SIP is Rs 100, with no upper limit for additional investments. The scheme offers both regular and direct plans with growth and IDCW options.

The fund will invest 95-100% in equity and related securities from the Nifty India Tourism Index and 0-5% in debt or money market instruments. It will follow a passive investment strategy, ensuring that investments are made in the same proportion as the stocks in the Nifty India Tourism Index. To minimize tracking errors, the portfolio will be rebalanced to reflect changes in stock weightings within the index, as well as to account for new investments or redemptions from the fund.

Nilesh Shah, Managing Director of Kotak Mahindra AMC, highlighted the potential of the fund, stating that it allows investors to participate in India’s growing tourism sector, which is being boosted by new travel trends and infrastructure development. He noted that the tourism industry is becoming a major economic force, supported by various industries such as airlines, hospitality, and transport.

Devender Singhal, Executive Vice President and Fund Manager, explained that the Kotak Nifty India Tourism Index Fund offers investors exposure to the broader tourism ecosystem. By adopting an index-based approach, the fund provides a cost-effective way to tap into the long-term growth potential of the tourism sector.

This scheme is ideal for investors looking for long-term capital growth that tracks the performance of the Nifty India Tourism Index, with the understanding that the investment comes with a "very high" level of risk, as per the scheme's riskometer.

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