Kotak Mahindra Asset Management Company (AMC) announced the launch of Kotak Manufacturers-in-India Fund – a scheme that will invest in India’s listed firms engaged in manufacturing activities.
This includes, according to the AMC, companies that are directly engaged in manufacturing activities, exports of manufactured goods in India with the potential to increase employment, companies that benefit from government creation in India, businesses that seek new-age technology solutions and Assist in building companies. Those who invest in new manufacturing facilities.
NFO is an open-ended equity scheme, benchmarked to the Nifty India Manufacturing Total Return Index, which is open for subscription till February 15. Minimum application amount is 5,000 during the NFO period.
According to the fund house, the manufacturing sector is poised to perform well due to phased manufacturing programme, PLI scheme, 100% automatic FDI, tax deduction, single-window clearance, electronic cluster and import duty protection.
Nilesh Shah, Group President and Managing Director, Kotak Mahindra Asset Management Company said, “India missed the manufacturing bus in the 1980s. We excelled in services like software to become the back office in the world. Now, China + 1 With this NFO we hope to bring this renaissance of manufacturing to our portfolio. and investors can benefit by participating in India’s growth story.”
The fund house has also mentioned risk to the theme. These include multiple types of COVID impacting the Indian economy and business sentiment, high commodity prices and inflation, increase in cost of capital, flip-flops in government policies and geopolitical developments affecting the availability of raw materials/intermediates. Huh.
The fund will be managed by Harish Krishnan for Equity and Abhishek Bisen for Debt.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,