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Kotak Mutual Fund has launched Kotak Consumption Fund, an open-ended scheme that will invest in stocks of consumption theme.
Consumption theme comprises sectors like FMCG, financial services, automobiles and auto components, consumer durables, telecommunication, consumer services, health care, power, realty and textiles.
In a press release, Nilesh Shah, MD, Kotak MF said, “The fund is about tapping into the shift from basic to smart - from analogue to digital, from feature phones to smartphones and from single-brand to multi-brand retail choices. This change reflects not just a change in buying capacity but also a shift in aspirations. We offer this fund for our investors who want to be a part of country’s growing consumption story and are looking for resilient sectors.”
Devender Singhal who has been with Kotak Mahindra AMC with over 15 years will manage this fund. Singhal, EVP, Kotak MF said, “Country’s consumption story is still unfolding. The consumption potential is driven by our country's rising income, strong digital revolution, unique demographic makeup and changing consumer trends.”
