Mumbai, May 31 (IANS): Kotak Mahindra Asset Management Company Limited (Kotak Mutual Fund) on Monday announced the launch of Kotak Nifty 50 Index Fund -- a large cap index fund -- based on the popular NIFTY 50 Indices, to help navigate market volatility in the long term.

This fund will invest in 50 large cap companies represented in the popular Nifty 50 Index in the same weight and give investors a chance to become part owners of India's most formidable companies.

Harsha Upadhyaya, President & CIO - Equity, Kotak Mahindra Asset Management Company said, "Kotak Nifty 50 Index fund is a one-stop solution for long-term wealth creation and is a good choice for investors looking to participate in India's growth story over the next few decades. As a passive, low cost fund, it allows investors to participate in a diversified portfolio of large cap blue chip companies by tracking Nifty 50 Index."

"The best way to invest in this fund will be to start an SIP for a long period of time and increase it every year in line with increase in your savings. This fund is ideal for those who believe in investment over speculation i.e. long term patience versus short term action," Upadhyaya said.

Kotak Mutual Fund manages over Rs 11,000 crore AUM across 10 passive strategies. In FY 20-21, the AMC launched the Kotak Next 50 Index fund, Kotak IT ETF and Kotak Nasdaq-100 FOF.

The New Fund Offer opens for subscription from May 31, 2021, to June 14, 2021.