ICICI Prudential MF and Kotak MF have launched NFOs in the passive and active space respectively. Here are the details of the new product offerings.
ICICI Prudential Alpha Low Vol 30 ETF FOF
ICICI Prudential MF has launched ICICI Prudential Alpha Low Vol 30 ETF FOF, an open ended scheme that strives to create a portfolio of stocks based on the combination of alpha and low volatility.
Nifty Alpha Low Volatility 30 TRI is the fund’s benchmark.
In a press release, Chintan Haria, Head - Product Development & Strategy, ICICI Prudential MF said, “The ETF FOF provides investors exposure to a combination of alpha generation opportunities with reduced volatility. This multi-style factor exposure endeavours to provide growth with stability to its investors.”
ICICI Prudential Alpha Low Vol 30 ETF FOF closes on September 15, 2021.
Kotak Multicap Fund
In another NFO launch, Kotak MF has introduced Kotak Multicap Fund, an open-ended scheme that aims to provide the right mix of large-cap, mid-cap and small-cap stocks for stability and growth.
The fund is benchmarked against the Nifty 500 Multicap 50:25:25 Total Returns Index.
In a press release, Harsha Upadhyaya, President & CIO - Equity, Kotak MF said, “The equity market is a Triveni Sangam of large-cap, mid-cap & small-cap stocks with each having its own return and risk profiles. We have added value to our investors by outperforming benchmark indices regularly across most time periods in all three categories - small-cap, mid-cap and large cap-funds and thus, are now offering the power of all 3 in one fund.”
Kotak Multicap Fund closes for subscription on September 22, 2021.
