Advertisement
Sunday, Sep 25, 2022
Outlook.com
Outlook.com

Kotak Mahindra Mutual Fund Launches Midcap 50 Exchange Traded Fund

Kotak Midcap 50 ETF, is an open ended scheme that will track the Nifty Midcap 50 Index. The New Fund Offer opened on January 6 and will close on January 20.

Kotak Mahindra Mutual Fund Launches Midcap 50 Exchange Traded Fund
Kotak Mahindra Mutual Fund Launches Midcap 50 Exchange Traded Fund
outlookindia.com
2022-01-06T12:36:27+05:30

The country's leading fund house Kotak Mahindra Mutual Fund has launched an Exchange Traded Fund which tracks performance of Nifty Midcap 50 index. Named as Kotak Midcap 50 ETF, is an open ended scheme that will track the Nifty Midcap 50 Index. The New Fund Offer opened today, January 6 and will close on January 20.

"The new fund offering (NFO) is benchmarked against the Nifty Midcap 50 Index (TRI), which captures the movement of the mid-cap segment of the market. Since 2004, in 11 out of 18 years, the Nifty Midcap 50 Index has performed better than both Nifty 50 and Nifty 500. Additionally, Nifty Midcap 50 has given a CAGR return of 44.9 per cent year-to-date compared to 25.6 per cent for Nifty 50 and 31.6 per cent for Nifty 500," Kotak Mutual Fund said in a press release.

The Kotak Midcap 50 ETF will replicate the Nifty Midcap 50 Index, which includes the top 50 companies based on full market capitalisation from Nifty Midcap 150 Index with preference given to those stocks on which derivative contracts are available on the National Stock Exchange. In case 50 midcap stocks do not have derivatives contract available on them then it could have less than 50 stocks in the index.

“Kotak's Midcap 50 ETF scheme is a good choice for investors looking to complement or diversify their active fund investments through passive funds. With the economy on the mend over the past one year, many midcap firms have improved their performance during this period and are expected to deliver better returns going ahead, which would augur well for investors in the medium to long term," Nilesh Shah, group president and managing director, Kotak Mahindra Asset Management said in a statement.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement