Kotak Mahindra (UK) launches the India Mid-Cap fund
The fund, available on the UCITS III compliant SICAV platform, aims to access capital growth potential by investing primarily in the shares and equity-linked instruments of mid-cap companies in India.
KOTAK MAHINDRA (UK) Ltd., (a wholly owned subsidiary of India’s Kotak Mahindra Bank Ltd.) has announced the launch of the India Mid-Cap Fund. The fund, available on the UCITS III compliant SICAV platform, is the fourth Luxembourg-domiciled Kotak fund to be launched, making Kotak one of the leading Indian providers of investment solutions for international investors. Typically, investments are made in companies that have assets and leadership in a particular niche segment; potential for rapid growth and innovation; or the ability to create new markets. Improvements in the business cycle present particularly strong opportunities for mid-caps but the investment manager also has flexibility to invest up to 35% of the portfolio in the shares and equity-lined instruments of large capitalisation companies.The minimum required retail investment amount is US$500 and US$1,000,000 for institutional investors. It targets to have a size of US$40mn over the next one month. Nitin Jain, Principal Fund Manager for Kotak’s long only strategies manages the fund. He says: “As the global recovery has gathered pace, Large-Cap funds have seen big inflows as confidence returns to the market. The Mid-Cap arena however has been overlooked, particularly by foreign investors.” “The Mid-Cap market has traditionally been under researched, meaning the sector has been left to local Indian investors with knowledge of the market. The Indian growth story and the strong long-term prospects of the economy mean that many of the companies in this space are Large-Caps in the making. The retail, media and pharmaceutical research sectors for example are all still in a fairly nascent state and investors can benefit from the value creation in these sectors as they evolve over a period of time” Kotak has previously launched three other funds on the SICAV platform, the Indian Multicap Fund; the India Infrastructure Realty Fund, and most recently the India Growth Fund; providing a range of ways for investors to access opportunities across the Indian market.
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