Kotak Funds - India Midcap Fund (the fund), a UCITS fund domiciled in Luxembourg, managed by Kotak Mahindra Asset Management (Singapore) Pte. Ltd. (subsidiary of Kotak Mahindra Bank Limited), has crossed the $2.5-billion AUM (Assets Under Management) mark.

With a proven track record spanning over 13 years, the fund has generated returns of 13.37 per cent CAGR in $ terms over a period of 10 years (as on June 30, 2023), according to a release by the fund house.

The fund aims to achieve long-term capital appreciation by primarily investing at least two-thirds of its total assets in equity and equity-linked securities of mid-capitalisation companies registered in India or deriving significant portion of their business from India.

Nilesh Shah, Group President and MD, Kotak Mahindra Asset Management Company Ltd, said as India continues to experience strong economic growth and attract increased capital inflows, mid-cap companies are well-positioned to thrive.