Kotak AMC launches S&P BSE Housing Index fund
The open-ended scheme invests in companies related to the housing theme
Hyderabad: A wholly-owned subsidiary of Kotak Mahindra Bank Limited and the Asset Manager for Kotak Mahindra Mutual Fund, Kotak Mahindra Asset Management Company Limited on Monday announced the launch of Kotak S&P BSE Housing Index Fund, replicating/tracking S&P BSE Housing Index. The open-ended scheme invests in companies related to the housing theme. The scheme opens for public subscription on August 7, 2023 and closes on August 21, 2023.
Nilesh Shah, Managing Director, KMAMC Ltd said, “The introduction of the Kotak S&P BSE Housing Index Fund is to provide 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.”
This index 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 five per cent.
Devender Singhal, EVP & Fund Manager, KMAMC Ltd informed that 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.