Kotak Mutual Fund launches Nifty 200 Momentum 30 Index Fund

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Kotak Mahindra Asset Management Company Ltd on Tuesday launched the Kotak Nifty 200 Momentum 30 Index Fund, an open-ended scheme that replicates/tracks the Nifty 200 Momentum 30 Index.

The Nifty 200 Momentum 30 Index aims to track the performance of the top 30 companies within the Nifty 200, which are selected based on their Normalized Momentum Score, determined by 6-month and 12-month price return, adjusted for volatility.

In the past decade to April 28, 2023, the Nifty 200 Momentum 30 TRI achieved a compound annual growth rate of 20 percent, the fund house said in a statement.

Nilesh Shah, Managing Director of Kotak Mahindra Asset Management Company Ltd, said, “Momentum investing, which is the driving principle behind this fund, is a strategy that benefits from the continuity of stock price trends. It captures the potential of stocks that show a strong trend in price action relative to the general trend. to the market.”