The Hindu Business Line : Kotak unveils lifestyle fund

WITH an eye on the growing domestic market, Kotak Mahindra Mutual Fund is launching the Kotak Lifestyle fund. This open-ended growth fund would invest in equity of companies that are likely to benefit by the changing lifestyle and rising consumerism in the country.

Last year, Kotak Mutual Fund had launched the Kotak Global India Fund, which was to invest in Indian companies that are globally competitive. The IPO had closed at Rs 360 crore, but the fund has now shrunk to Rs 202 crore.

The new scheme will predominantly invest equity and equity-related instruments across industries and companies, which are expected to benefit from the rising household spending. The scheme may also invest in debt and money market instruments, according to the offer document.

The fund would invest 65-100 per cent in equity and equity-related instruments. It can also invest up to 35 per cent in debt and money market instruments.

The Kotak Lifestyle Fund would be available in both the growth and dividend options.

The offer document has been filed with the SEBI and is awaiting clearance.

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