Kotak Mutual fund launches Kotak S&P BSE Housing Index Fund

Mumbai, Aug 7 Kotak Mahindra Asset Management Company Ltd (KMAMC / Kotak Mutual Fund) on Monday announced the launch of Kotak S&P BSE Housing Index Fund, an open-ended scheme replicating/tracking S&P BSE Housing Index.
S&P BSE Housing Index invests in companies related to the housing theme. This index diligently measures the performance of common stocks within the S&P BSE 250 Large Midcap Index,categorized as part of the eligible common India Industry Classification. Constituents are weighted by float-adjusted market capitalization, subject to a single constituent weight cap of 5%. By closely replicating this index, the Kotak S&P BSE Housing Index Fund extends diverse investment opportunities to its investors linked to the housing sector. The fund presents a cost-effective and transparent approach to capitalize on the housing theme within the Indian stock market.
The scheme opens for public subscription on August 7, 2023 and closes on August 21, 2023.
Nilesh Shah, Managing Director of KMAMC said, “At Kotak Mutual Fund, our relentless pursuit is to offer our investors a wide array of investment solutions. The introduction of the Kotak S&P BSE Housing Index Fund exemplifies our dedication to providing products that cater to diverse risk appetites and investment horizons. This fund presents a unique opportunity for investors looking to capitalize on the potential growth in the housing sector and businesses that can benefit from the real estate boom. By launching this thematic index fund, we bolster our range of passive fund offerings, enhancing our overall portfolio of investment options.”
Devender Singhal, EVP & Fund Manager, Kotak Mahindra Asset Management Company Ltd.said, “The launch of the Kotak S&P BSE Housing Index Fund is in harmony with our steadfast dedication to providing a range of products tailored to suit various risk appetites and investment time frames. This fund aims to present a compelling prospect for investors seeking to capitalize on the housing sector and enterprises that stand to potentially benefit from the expansion in the real estate domain. By introducing this thematic index fund, we intend to fortify our comprehensive array of passive fund offerings, thus bestowing upon investors a multitude of empowering opportunities.”