Kotak Nifty Financial Services Ex Bank Index Fund Direct Growth

Kotak Nifty Financial Services Ex Bank Index Fund Direct Growth is an equity fund. This fund was started on 14 August, 2023. The fund is managed by Abhishek Bisen, Devender Singhal. The fund could potentially beat inflation in the long-run.

1. Kotak Nifty Financial Services Ex Bank Index Fund Direct Growth has ₹21 Cr worth of assets under management (AUM) as on Jun 2024 and is less than category average.
2. The fund has an expense ratio 0.2.
   

Kotak Nifty Financial Services Ex Bank Index Fund Direct Growth has given a CAGR return of 28.94% since inception.

Kotak Nifty Financial Services Ex Bank Index Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech. Its top holdings are Bajaj Finance Ltd, Jio Financial Services Ltd, Bajaj Finserv Ltd, Shriram Finance Ltd, Power Finance Corp Ltd

As it is a index funds mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 15%
For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefit
Dividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.

The investment objective of the scheme is to replicate the composition of the Nifty Financial Services Ex-Bank Index and to generate returns that are commensurate with the performance of the Nifty Financial Services Ex-Bank Index, subject to tracking errors. However, there is no assurance that the objective of the scheme will be realized. The scheme does not assure or guarantee any returns

Minimum investment for lump sum payment is INR 100.00 and for SIP is INR 100.00. Kotak Nifty Financial Services Ex Bank Index Fund Direct Growth has no lock in period.