Kotak Mahindra MF has launched Kotak Nifty Alpha 50 ETF, an open-ended scheme.
The ETF will track the performance of 50 stocks listed with NSE with high alpha’s in the last one year. As per the criteria, these companies are selected from top 300 companies by average free-float market capitalization and average daily turnover for the last six months.
In a press release, Nilesh Shah, Group President and Managing Director, Kotak Mahindra AMC, said, “Our decision to launch Kotak Nifty Alpha 50 ETF comes at a time when the market has cooled down and valuations have eased. The diversified stocks in the ETF will be based on Kotak's well-defined strategy that will benefit investors over the long term.”
