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Mr Sandesh Kirkire (left), CEO, Kotak Mahindra Asset Management Company, with Mr Nilesh Shah, President, at a press conference in Mumbai on Thursday. - Shashi Ashiwal

Mumbai , June 2

KOTAK Mahindra Mutual fund launched its open-ended contrarian equity fund, Kotak Contra.

The fund seeks to invest in fundamentally sound stocks that are overlooked by the market and are waiting for their value to be discovered.

The contra investment strategy would entail investing in companies whose changing fundamentals are not recognised by the market.

Some stocks would be unattractive in the short term because of changes in the environment, Government policy etc.

If these changes are temporary and non-recurring in nature then investment in these stocks would give high returns when the sentiment against these companies changes, according to Mr. Nilesh Shah, President, Kotak Mahindra Asset Management Company.

Kotak Contra will take advantage of the opportunity that short-term mis-pricing creates, said Mr Sandesh Kirkire, Chief Executive Officer, Kotak Mahindra AMC.

The holding period for the stocks in the fund is expected to be 18-24 months, Mr Anand Shah, Fund Manager of Kotak Contra, revealed.

The initial offer of the fund remains open till July 1, 2005.

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Kotak Mahindra launches contra fund

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