Kotak Funds - India Midcap Fund, a Undertakings for the Collective Investment in Transferable Securities (UCITS) fund domiciled in Luxembourg, managed by Kotak Mahindra Asset Management (Singapore) Pte (subsidiary of Kotak Mahindra Bank Limited) has crossed the $2.5 billion AUM (Assets Under Management) mark. With a track record spanning over 13 years, the fund has generated returns of 13.37 percent compounded annual growth rate (CAGR) in dollar terms over a period of 10 years (as on June 30, 2023).

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The fund aims to achieve long term capital appreciation by primarily investing at least two thirds of its total assets in equity and equity-linked securities of mid-capitalisation companies registered in India or deriving significant portion of their business from India, the fund house said.

Global investors primarily focus their investments in India on large-cap companies. This can be seen in the majority of active India funds from global markets, which are either large-cap or all-cap oriented. However, Kotak Funds - India Midcap Fund specifically targets mid-market companies in India, it said.

Speaking on the milestone, Nilesh Shah, Group President and MD, Kotak Mahindra Asset Management Company said, “As India continues to experience strong economic growth and attract increased capital inflows, mid-cap companies are well-positioned to thrive.”

Shyam Kumar, Director – Kotak Mahindra Asset Management (Singapore) Pte. said, “With India at the forefront of global growth and favourable growth prospects, we anticipate increased global capital inflows to complement strong domestic capital flows.”

The fund also factors in Environmental Social and Governance (“ESG”) factors in its investment management process. It evaluates companies on the basis of these factors before an investment decision is made, thereby promoting, environmental and social characteristics, the fund house said.

Kotak Mahindra Asset Management (Singapore) Pte ("KMAMS") was incorporated on March 7, 2014 and is a wholly owned subsidiary of Kotak Mahindra Bank. It provides international investors with India-bound investment advisory and asset management services and currently manages around $ 4.1 billion worth of assets.

(Edited by : Anshul)

First Published:Aug 3, 2023 2:33 PM IST