Markets

Kotak Mahindra Mutual Fund launches Nasdaq-100 FoF

Mumbai | Updated on January 11, 2021 Published on January 11, 2021

Harsha Upadhyaya, President and CIO - Equity, Kotak Mahindra AMC   -  BUSINESS LINE

The NFO closes on January 25

Kotak Mahindra Asset Management Company has launched Kotak NASDAQ 100 Fund of Fund that will invest in units of overseas exchange-traded funds (ETF) and schemes such as iShares NASDAQ 100 ETF, Lyxor Nasdaq-100 ETF and USA Nasdaq 100 Index Fund. The shares listed on the Nasdaq 100 are worth $15 trillion.

The new fund offer (NFO), which opened for subscription on Monday, will close on January 25.

Nasdaq-100 is one of the world’s major large-cap growth indices. It includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Exchange. These companies are leaders in information technology, telecom, retail, wholesale trade and biotechnology.

Harsha Upadhyaya, President and CIO - Equity, Kotak Mahindra AMC, said investors in the new fund offer get an opportunity to participate in the performance of the Nasdaq-100 index.

Arjun Khanna, Fund Manager - Equity, Kotak Mahindra AMC, said the combined market capitalisation of Apple and Amazon is more than India’s total market capitalisation. Currently, 50 per cent weightage of the Nasdaq-100 is from technology stocks including Apple, Microsoft, Amazon, Tesla, Facebook and Google’s parent company Alphabet.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 11, 2021
This article is closed for comments.
Please Email the Editor