Wednesday, 27 July 2016
Last updated 21 min ago
Mar 17 2010 | 10:24am ET
Kotak Mahindra, UK, a subsidiary of India’s Kotak Mahindra Bank, has launched a new India-focused investment fund.
The new vehicle, the India Growth Fund, is the third sub-fund for Kotak Funds, a UCITS III-compliant SICAV domiciled in Luxembourg.
According to the firm, the India Growth Fund aims to generate long-term capital appreciation through investing in large- and mid-cap Indian companies with high growth potential, and which correspond with key investment themes including infrastructure, financial services, outsourcing, and consumption-led demographics.
The fund will be managed by Nitin Jain, who also manages the firm’s Indian Multicap Fund and the India Infrastructure and Realty Fund; the other sub funds of the UCITS III compliant SICAV.
“A few years ago most investors might only have exposure to India through an emerging market or global fund but they now recognize that India is an asset class in its own right,” said Jian. “They are now looking for a variety of ways to tap opportunities in the market. They prefer a liquid, transparent and regulated investment vehicle which is why UCITS III compliant SICAVs provide the perfect platform and this is why we are continuing to expand Kotak’s range of SICAV funds.”
According to a study released yesterday by data provider Eurekahedge, assets managed by UCITS III funds now total $52.3 billion globally.