Kotak Mahindra AMC launches Kotak BSE PSU Index Fund
Kotak Mahindra Asset Management Company announced the launch of Kotak BSE PSU Index Fund, an open-ended scheme replicating or tracking the BSE PSU Index
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Mumbai, Jul 10: Kotak Mahindra Asset Management Company announced the launch of Kotak BSE PSU Index Fund, an open-ended scheme replicating or tracking the BSE PSU Index. The scheme opens for public subscription on July 10th, 2024, and closes on July 24th, 2024. BSE PSU Index currently comprises of 56 PSU stocks selected from the BSE 500 Index.
The index comprises a diverse range of public sector undertakings spread across various sectors. The Fund provides a relatively cost-effective and transparent way to invest in the Indian stock market, offering investors diversified exposure to public sector enterprises. Mr. Nilesh Shah, Managing Director of KMAMC, commented on the launch, "At Kotak Mutual Fund, we continually strive to provide our investors with diverse investment solutions. The launch of the Kotak BSE PSU Index Fund is aligned with our commitment to offer products that cater to different risk appetites and investment horizons.
While PSU stocks present a mixed landscape with varying opportunities across sectors, this index fund allows investors to gain broad exposure to the PSU segment. This fund provides a structured approach to PSU investing, allowing investors to participate in the potential of this segment passively while managing risks through diversification”. Devender Singhal, Executive Vice President & Fund Manager, Kotak Mahindra AMC added; "The Kotak BSE PSU Index Fund represents an important addition to our product lineup, catering to investors interested in India's public sector enterprises. PSUs play a crucial role in key sectors of our economy, from energy and finance to defense and infrastructure.
While individual PSU stocks may exhibit varying performance, this index-based approach allows investors to potentially benefit from the overall growth and reforms in the public sector. As India continues its economic trajectory, this fund offers investors a chance to be part of that journey through a comparative cost-effective and systematically managed investment vehicle."
