Kotak Mahindra AMC launches Kotak Nifty Bank Index Fund NFO
Business
Kotak Mahindra AMC just rolled out the Kotak Nifty Bank Index Fund, letting you invest in a mix of top banking stocks without picking them yourself.
The New Fund Offer is open from August 3 to August 17, so if you're curious about the banking sector and want a hands-off approach, this could be worth a look.
Kotak fund tracks 14 NSE banks
The fund tracks 14 major banks listed on the NSE (both private and public) and updates its lineup twice a year based on trading and market size.
Since inception, the Nifty Bank Total Return Index has delivered an impressive 17.8% annual growth rate, beating the broader Nifty 50 Total Return Index's 12.3%.
You can start with just ₹1,000, but remember: past returns aren't guaranteed for the future.