Kotak Mahindra Asset Management Company Ltd, better known as Kotak Mutual Fund, has unveiled a new investment opportunity for those looking to capitalize on India’s burgeoning tourism sector. The Kotak Nifty India Tourism Index Fund, an open-ended fund, is set to begin accepting subscriptions on September 2, 2024, concluding on September 16, 2024. This fund is specifically designed to mirror the Nifty India Tourism Index, a curated selection of companies from the broader Nifty 500 Index that are significantly involved in the travel and tourism industry.
The Nifty India Tourism Index encompasses a diverse range of companies, spanning from airlines and travel infrastructure to hotels, restaurants, and other travel-related services. Companies are selected based on their free-float market cap, providing investors with a broad exposure to the various facets of the tourism industry. The fund aims to capture the growing trend of staycations and business travel, offering investors a transparent and cost-effective way to participate in the expanding tourism market.
Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company, expressed enthusiasm for the fund, stating, “At Kotak Mutual Fund, our goal is to provide investment solutions that align with India’s dynamic economic sectors. The Kotak Nifty India Tourism Index Fund presents an opportunity for investors to be a part of the flourishing tourism sector, fueled by evolving travel patterns and expanding infrastructure. This fund offers the potential to benefit from the growth of India’s tourism industry.”
Devender Singhal, Executive Vice President & Fund Manager at Kotak Mahindra AMC, further elaborated on the fund’s strategy, emphasizing the significant economic role India’s tourism sector plays. “India’s tourism sector is emerging as a major economic driver, with contributions from a wide range of industries like airlines, hospitality, and transportation. The Kotak Nifty India Tourism Index Fund is designed to provide investors with access to this broader ecosystem of growth within the tourism sector. Through this index-based approach, we offer an accessible and cost-efficient means for investors to participate in the long-term growth of the tourism sector.”
