Publish Date:
Kotak Mutual Fund has launched an open-ended fund of fund scheme - Kotak Global Innovation Fund of Fund.
The scheme will be investing its assets in in units of Wellington Global Innovation Fund or any other similar overseas mutual fund schemes/ETF.
The primary investment objective of the Scheme is to provide long-term capital appreciation by investing in units of Wellington Global Innovation Fund or any other similar overseas mutual fund schemes/ETFs.
The Scheme may, at the discretion of the Investment Manager, also invest in the units/ shares of any other similar overseas mutual fund schemes/ETFs.
It shall be noted ‘similar overseas mutual fund schemes/ETFs’ shall have investment objective, investment strategy, asset allocation and risk profile/consideration similar to those of Wellington Global Innovation Fund.
However, there can be no assurance that the investment objective of the Scheme will be realized.
Kotak Global Innovation Fund of Fund is mandated to invest 95% to 100% of its net assets in Units of Wellington Global Innovation Fund and/or any other similar overseas mutual fund schemes/ ETFs and 0% to 5% of the net assets in Debt & Money market instruments.
Accordingly, the Scheme will follow a passive investment strategy and will predominantly invest in Units of Wellington Global Innovation Fund and/or any other similar overseas mutual fund schemes/ETFs. The AMC/ Underlying Scheme does not make any judgments about the investment merit of the Fund nor will it attempt to apply any economic, financial or market analysis.
The Scheme shall invest in Units of the Fund, except to meet its liquidity requirements. The scheme would also invest in units of Liquid/ debt schemes, debt and money market instruments as stated in its asset allocation table, in its scheme information document.
Overview of Wellington Global Innovation Fund
The underlying Wellington Global Innovation Fund is an open-ended fund incorporated in Luxembourg. The investment objective of Wellington Global Innovation Fund is to invest primarily in equity securities issued by companies worldwide, including emerging markets, which the fund house believes to be drivers of innovation or beneficiaries of innovation.
The original fund is in inception since February 2017 which is a USD S Accumulating Unhedged share class.
Kotak Global Innovation Fund of Fund’s performance will be benchmarked against MSCI All Country World Index TRI.
The fund will be managed by Mr Arjun Khanna.
The NFO opens for subscription on July 08, 2021, and closes on July 22, 2021. The scheme will reopen for continuous sale and repurchase on or before: August 05, 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 Growth Option and Income Distribution cum Capital Withdrawal (IDCW) Option (Re-investment and Pay-out facilities).