Kotak Mutual Fund has launched Kotak Nifty Top 10 Equal Weight Index Fund, an open-ended scheme replicating/tracking the Nifty Top 10 Equal Weight Index.
The scheme is open for subscription and will close on April 21. The scheme will reopen for continuous sale and repurchase on or before May 2.
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The investment objective of the scheme 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.
The scheme will be benchmarked against Nifty Top 10 Equal Weight Index TRI and will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen. The maximum Total expenses ratio (TER) permissible under Regulation 52(6)(b) is upto 1%.
The scheme will allocate 95-100% in equity and equity related securities covered by Nifty Top 10 Equal Weight Index and 0-5% in debt/ money market instruments. The minimum investment amount is Rs 100 and any amount thereafter.
The minimum redemption/switch out amount is Rs 100 or account balance, whichever is lower.
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The scheme will follow a passive investment strategy with investments in stocks in the same proportion as in Nifty Top 10 Equal Weight Index. The investment strategy would revolve around reducing the tracking error through regular rebalancing of the portfolio, taking into account the change in weights of stocks in the Index as well as the incremental collections/redemptions in the scheme. Such rebalancing shall be done in accordance with timelines prescribed by SEBI from time to time.
The scheme is suitable for investors who are seeking long term capital growth and want a return that corresponds to the performance of Nifty Top 10 Equal Weight Index, subject to tracking error.
The principal invested in the scheme will be at very high risk according to the riskometer of the scheme.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
The scheme is open for subscription and will close on April 21. The scheme will reopen for continuous sale and repurchase on or before May 2.
Also Read | Hang Seng ETF down by 12% today. What should ETF investors do?
The investment objective of the scheme 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.
The scheme will be benchmarked against Nifty Top 10 Equal Weight Index TRI and will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen. The maximum Total expenses ratio (TER) permissible under Regulation 52(6)(b) is upto 1%.
The scheme will allocate 95-100% in equity and equity related securities covered by Nifty Top 10 Equal Weight Index and 0-5% in debt/ money market instruments. The minimum investment amount is Rs 100 and any amount thereafter.
The minimum redemption/switch out amount is Rs 100 or account balance, whichever is lower.
Also Read | MF Tracker: Can this top performing smallcap fund keep winning streak alive?
The scheme will follow a passive investment strategy with investments in stocks in the same proportion as in Nifty Top 10 Equal Weight Index. The investment strategy would revolve around reducing the tracking error through regular rebalancing of the portfolio, taking into account the change in weights of stocks in the Index as well as the incremental collections/redemptions in the scheme. Such rebalancing shall be done in accordance with timelines prescribed by SEBI from time to time.
The scheme is suitable for investors who are seeking long term capital growth and want a return that corresponds to the performance of Nifty Top 10 Equal Weight Index, subject to tracking error.
The principal invested in the scheme will be at very high risk according to the riskometer of the scheme.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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