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Kotak launches India Growth Fund

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Kotak Mahindra (UK), a wholly owned subsidiary of India’s Kotak Mahindra Bank, has launched its India Growth Fund.

IGF will be the third sub-fund of Kotak Funds, a Ucits III compliant Sicav domiciled in Luxembourg.

The IGF 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: infrastructure, financial services, outsourcing, and consumption-led demographics.

It will adopt a combined approach of top-down sector driven and bottom-up stock selection, with a bias towards large-cap companies and flexibility for the fund manager to invest also in mid and small caps.

Nitin Jain (pictured), principal fund manager for Kotak’s long only strategies, will manage the fund. Jain also manages the Indian Multicap Fund and the India Infrastructure and Realty Fund, the other sub-funds of the Ucits III compliant Sicav. He has close to 14 years’ experience in India’s equity markets.

Jain says: “A few years ago most investors might only have exposure to India through an emerging market or global fund but they now recognise that India is an asset class in its own right. 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.”

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