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Kotak MF recently launched Kotak Nifty India Tourism Index Fund, an open-ended scheme that aims to replicate/track Nifty India Tourism Index. The fund will comprise stocks selected from the Nifty 500 index that represent travel and tourism theme.
The weight of each stock in the Nifty India Tourism Index is based on its free-float market capitalization. The index includes companies from airlines, travel infrastructure, hotels, restaurants, and travel-related services. This index offers investors exposure to the growing tourism sector, capitalizing on changing travel trends like staycations, workcations, and rising business travel and adventure.
In a press release, Nilesh Shah, MD, Kotak AMC said, “The fund opens the door for investors to participate in the booming tourism sector, driven by evolving travel trends and expanding infrastructure. This fund provides an opportunity to benefit from the potential growth of India's tourism industry.”
Devender Singhal, Executive Vice President & Fund Manager, Kotak AMC said, “India’s tourism sector is emerging as a major economic force, with contributions from multiple industries like airlines, hospitality and transport. The fund is designed to offer investors exposure to this broad ecosystem of growth within the tourism sector. Through this index-based approach, we provide an accessible, relatively cost-effective way for investors to participate in the long-term growth of the tourism sector.”
