Kotak Nifty Midcap 150 Momentum 50 Index Fund: New Fund Offer (NFO)
Kotak Nifty Midcap 150 Momentum 50 Index Fund launched NFO, offering midcap momentum exposure, closes on October 3, 2024.
The Kotak Nifty Midcap 150 Momentum 50 Index Fund is an open-ended index fund managed by Kotak Mahindra Mutual Fund. Launched on September 19, 2024, the new fund offer (NFO) closes on October 3, 2024. The fund seeks to replicate the performance of the Nifty Midcap 150 Momentum 50 Index with the potential for tracking errors.
This index captures the top 50 stocks from the Nifty Midcap 150 based on momentum, offering a focused strategy for investors aiming for long-term capital growth. The fund’s asset allocation includes 95 per cent to 100 per cent in equity and equity-related instruments tracking the Nifty Midcap 150 Momentum 50 Index, while 0 per cent to 5 per cent may be allocated to debt and money market instruments.
The minimum subscription amount for the NFO is Rs 100 or any multiple thereof. However, it's essential to note that this product involves very high risk, and there is no guarantee that the fund will meet its stated objective.
The benchmark for this fund is the Nifty Midcap 150 Momentum 50 Total Return Index (TRI). The fund is managed by experienced professionals including Mr. Devender Singhal and Mr. Satish Dondapati for equity, and Mr. Abhishek Bisen for debt securities.
Peer Funds
|
Scheme Name
|
AUM
(Crore)
|
TER
(in Per Cent)
|
1 Yr Return
in Per Cent
|
|
Edelweiss Nifty Midcap150
Momentum 50 Index Fund
|
635.52
|
1.1
|
59.61
|
|
Tata Nifty Midcap 150
Momentum 50 Index Fund
|
574.65
|
1.02
|
58.11
|
Data as of September 18, 2024
Investors looking for long-term capital growth with exposure to midcap stocks should consider this fund. However, they must be comfortable with the high-risk nature of investing in momentum-based midcap stocks.
Disclaimer: The article is for informational purposes only and not investment advice.