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Kotak Mutual Fund has launched Kotak Transportation & Logistics Fund, an open-ended equity scheme.
The fund will invest in companies engaged in transportation, logistics and related activities like businesses involved in transportation infrastructure, logistics services and financial companies supporting these sectors.
In a press release, Nilesh Shah, Managing Director, Kotak MF said, “The growth transportation and logistics is fuelled by rising vehicle ownership, the shift from fossil fuel engines to electric vehicles and increasing per capita GDP. Major government initiatives like Bharatmala and GatiShakti will enhance efficiency and expand business opportunities in the logistics Industries. With India's expanding manufacturing industry, the transportation and logistics industry is set for significant expansion.”
Harsha Upadhyaya, Chief Investment Officer - Equity & Fund Manager, Kotak MF said, “The transportation and logistics theme stands to benefit from multiple tailwinds, including growing consumption, increasing per capita GDP, and the growth of e-commerce, auto, and auto-ancillary businesses. The government's focus on reducing transportation costs by creating an efficient logistics network will not only aid sector growth but also attract new players. Over the last five years, there has been a 44% increase in the number of listed companies in this space. Demand for transportation and logistics services is expected to grow significantly as the India Story unfolds in the coming years.”
Nalin Bhatt, who has been with Kotak Mahindra AMC since February 2016 and has over 20 years of experience in equity research and fund management will manage this scheme.
