Kotak Mahindra MF launches Kotak Sensex ETF

MUMBAI: Kotak Mahindra Asset Management Company, today announced the launch of an exchange-traded fund focusing on investing in stocks that comprise the BSE Sensex called Kotak Sensex ETF.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the BSE Sensex subject to tracking errors, a press release issued here stated.

The fund, to be benchmarked against the BSE Sensex, is open for subscription from today till May 16.

Kotak Mahindra AMC's CEO, Sandesh Kirkere, said, "Our endeavour has been to provide diverse investment options to cater to the requirement of our investors. Kotak Sensex ETF is one such product, which enables a long-term investment strategy at significantly lower costs."

Bombay Stock Exchange's Managing Director and CEO, Rajnikant Patel, said, "Sensex is the flagship index of the Indian capital markets and the Kotak Sensex ETF represents an easy, liquid and effective instrument to track the index...I am sure the ETF will be well received by both retail as well as institutional investors."