Kotak Mahindra Asset Management Company Ltd has mopped up over Rs. 3,500 crore in Kotak Multicap Fund.
The new fund offering (NFO) by Kotak, which opened for subscription from September 8-22, 2021, has registered the highest-ever collection made by Kotak Asset Management Company in an NFO, according to a press release.
Nilesh Shah, Group President and Managing Director, Kotak Mahindra Asset Management Co. Ltd. said, “Interestingly, of the Rs. 3500 crore NFO collection, 25 percent came from Tier II towns; And more than 10 percent of the 1,50,000 applications received came through SIPs,” added Nilesh.
Kotak Multicap Fund will invest 25 percent each in mid-cap, small-cap and large-cap stocks, and the balance 25 percent will be invested across market cap opportunistically. The fund will open for on-going subscription from October 6, 2021.
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