Publish Date:
Kotak Mahindra Mutual Fund (MF) has launched an open ended fund of fund scheme - Kotak NASDAQ 100 Fund of Fund.
The scheme will be investing its assets in units of overseas ETF’s and/or Index Fund based on NASDAQ 100 Index.
The investment objective of the scheme is to provide long-term capital appreciation by investing in units of overseas ETF’s and/ or Index Fund based on NASDAQ 100 Index. However, there can be no assurance that the investment objective of the Scheme will be realised.
Kotak NASDAQ 100 Fund of Fund will follow a passive investment strategy and will invest atleast 95% of its net assets in Units of overseas ETFs and/or Index Fund based on NASDAQ 100 Index; whereas upto 5% of the net assets can be held in Debt schemes, Debt & Money Market Instruments, including Tri Party Repo, G-Secs, Cash and Cash at call, etc.
The scheme will invest in units of overseas ETFs and/or Index Fund based on NASDAQ 100 Index & debt schemes as per the limits specified in the asset allocation of respective schemes.
Here is the indicative list of overseas ETFs and/or Index Fund based on NASDAQ 100 Index:
- iShares NASDAQ 100 ETF USD Acc
- Lyxor NASDAQ 100 ETF Acc
- USAA NASDAQ-100 Index fund
or similar overseas ETF/ and/or Index Fund based on NASDAQ 100 Index
Kotak NASDAQ 100 Fund of Fund’s performance will be benchmarked against NASDAQ 100 TRI.
The fund will be managed by Mr Arjun Khanna (as a dedicated fund manager for the Scheme) and Mr Abhishek Bisen (fund manager for debt securities).
The NFO opens for subscription on January 11, 2021 and closes on January 25, 2021. The scheme will reopen for continuous sale and repurchase on or before: February 9, 2021.
The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having only Growth Option.