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Kotak Multi Asset Allocation Fund NFO collects over Rs 3,600 crore

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ET OnlineLast Updated: Oct 04, 2023, 02:35:00 PM IST

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Synopsis

The scheme will invest 65-80% in equity and equity related instruments, 10-25% in debt and money market securities, 10-25% in commodity ETFs, exchange traded commodity derivatives (ETCDs) & any other mode of investment in commodities as permitted by SEBI from time to time, 0-15% in overseas mutual funds schemes/ ETFs/foreign securities, and 0-10% in units of REITs & InvITs.

The new fund offer or NFO of Kotak Multi Asset Allocation Fund has collected over Rs 3,600 crore. The fund has registered the highest ever collection made by Kotak Mahindra Asset Management Company in an NFO, with over 1 lakh applications.

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The NFO was open for subscription from August 31 to September 14. The scheme has reopened for continuous sale and repurchase from October 3.

Kotak Multi Asset Allocation Fund is an open-ended scheme investing in equity, debt & money market instruments, commodity ETFs and exchange traded commodity derivatives.

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The scheme is benchmarked against (NIFTY 500 TRI (65%) + NIFTY Short Duration Debt Index (25%) + Domestic Price of Gold (5%) + Domestic Price of Silver (5%).

The scheme will be managed by Devender Singhal, Abhishek Bisen (debt investment), Hiten Shah (arbitrage investment), Jeetu Valechha Sonar (commodities investment), and Arjun Khanna (foreign securities).

“This response that we have received for Kotak Multi Asset Allocation Fund demonstrates the faith that investors have put in Kotak Mutual Fund. We are truly grateful to our distribution partners & investors who have put trust in Kotak Multi Asset Allocation Fund, making it our highest NFO collection thus far,” said Nilesh Shah, Managing Director, Kotak Mutual Fund.

The scheme will invest 65-80% in equity and equity related instruments, 10-25% in debt and money market securities, 10-25% in commodity ETFs, exchange traded commodity derivatives (ETCDs) & any other mode of investment in commodities as permitted by SEBI from time to time, 0-15% in overseas mutual funds schemes/ ETFs/foreign securities, and 0-10% in units of REITs & InvITs.

The scheme aims at addressing the need of investors for a complete asset allocation solution that provides them the access and convenience to various asset classes through a single investment vehicle.