Kotak Mahindra Asset Management Company has collected over ₹3,600 crore through the new fund offer of multi asset allocation fund.
The NFO, which closed on September 14, has registered the highest-ever collection made by the fund house in an NFO, with over 1 lakh applications. The fund was made available for continuous sale and repurchase from Tuesday.
Nilesh Shah, Managing Director, Kotak Mahindra AMC, said the response for the Multi Asset Allocation NFO demonstrates the faith that investors have put in Kotak Mutual Fund.
The new fund will invest in equity and equity-related securities, Debt and Money Market Instruments, Commodity ETFs, and Exchange Traded Commodity Derivatives. It aims to address the need of investors for a complete asset allocation solution that provides them access and convenience to various asset classes through a single investment vehicle.