July 19, 2023
mayank
Kotak Nifty Financial Services Ex-Bank Index Fund NFO, Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
NFO opens on July 24, 2023
NFO will close on August 07, 2023
(Our detailed Guidance is given at the bottom of the Page)
Kotak Nifty Financial Services Ex-Bank Index Fund NFO Investment Strategy
The scheme seeks to replicate the composition of the Nifty Financial Services Ex-Bank Index and to generate returns that are commensurate with the performance of the Nifty Financial Services Ex-Bank Index, subject to tracking errors.
Basic Details
| Fund House | Kotak Mahindra Mutual Fund |
| Issue Open | 24 July 2023 |
| Issue Close | 07 August 2023 |
| Type | Open-ended |
| Category | Equity: Sectoral-Banking |
| Min. Investment(₹) | 5,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | Nifty Financial Services Ex-Bank TRI |
Benchmark Index of Kotak Nifty Financial Services Ex-Bank Index Fund NFO
The Nifty Financial Services Ex-Bank Index which aims to track the performance of portfolio of stocks from the Financial Services sector other than Banks. The largest 30 stocks from eligible basic industries are chosen based on 6 month average free-float market capitalisation. Index stock weights are based on their free-float market capitalization. Stock weights are capped at 25% each.
The index can be used for a variety of purposes such as benchmarking, creation of index funds, ETFs and structured products.
Index Variant: Nifty Financial Services Ex-Bank Total Returns Index
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 22.09 | 13.24 | 34.10 | 8.81 | 17.53 |
| Total Return | 22.75 | 13.93 | 35.32 | 9.82 | 19.27 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 15.63 | 25.91 | 27.26 |
| Beta (NIFTY 50) | 1.14 | 1.20 | 1.10 |
| Correlation (NIFTY 50) | 0.85 | 0.89 | 0.87 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 19.75 | 4.62 | 1.24 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| Housing Development Finance Corporation | 25.11 |
| Bajaj Finance Ltd. | 16.35 |
| Bajaj Finserv Ltd. | 7.09 |
| HDFC Life Insurance Company Ltd. | 5.99 |
| SBI Life Insurance Company Ltd. | 5.04 |
| Shriram Finance Ltd. | 3.96 |
| Cholamandalam Investment and Finance | 3.86 |
| ICICI Lombard General Insurance Company Ltd. | 2.94 |
| Bajaj Holdings & Investment Ltd. | 2.60 |
| Power Finance Corporation Ltd. | 2.15 |
Fund Manager of Kotak Nifty Financial Services Ex-Bank Index Fund NFO
1) Abhishek Bisen
Education: Mr. Bisen is a BA and MBA in Finance.
Experience: Prior to joining Kotak AMC, he was working with Securities Trading Corporation Of India Ltd where he was looking at Sales & Trading of Fixed Income Products apart from doing Portfolio Advisory. His earlier assignments also include 2 years of merchant banking experience with a leading merchant banking firm.
Past Performance of his Schemes
| Fund | Kotak Nifty Midcap 50 ETF | It’s Benchmark | Kotak Nifty Alpha 50 ETF | It’s Benchmark |
| 1 Year | 32.44 | 26.98 | 17.67 | 22.34 |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
2) Devender Singhal
Education: Mr. Singhal has done B.A. (Maths) from Delhi University and PGDM, Finance from Fore School of Management, Delhi.
Experience: Prior to joining Kotak Mahindra AMC , he has worked with Kotak Securities Ltd.(July 2007 — January 2009) ,Religare (February 2006 — June 2007), Karvy (July 2004 — January 2006), P N Vijay Financial Services Pvt Ltd(2001 — 2004) and Dundee Mutual Fund( Summer Trainee ) (May 2000 — June 2000 ).
Past Performance of his Schemes
| Fund | Kotak Nifty IT ETF | It’s Benchmark | Kotak Multicap Fund | It’s Benchmark |
| 1 Year | 17.00 | 15.86 | 29.19 | 21.86 |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
3) Satish Dondapati
Education: Mr. Dondapati has done MBA Finance
Experience: Prior to joining Kotak Mutual fund he has worked with Centurian Bank Of Punjab, Bajaj Capital Ltd.
Past Performance of his Schemes
| Fund | Kotak Nifty MNC ETF | It’s Benchmark | Kotak NIFTY India Consumption ETF | It’s Benchmark |
| 1 Year | — | — | — | — |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
AMC:
Kotak Mahindra Asset Management Company Ltd
Address: The Capital Building, Behind ICICI Bank, G Block BKC, Bandra Kurla Complex Bandra (E) Mumbai – 400051
Website: https://www.kotakmf.com/
Registrar & Transfer Agent of Kotak Nifty Financial Services Ex-Bank Index Fund NFO
Computer Age Management Services Ltd.
Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002
Website: www.camsonline.com
Guidance for Kotak Nifty Financial Services Ex-Bank Index Fund NFO by Paresh Gordhandas, C.A., Research Analyst.
The scheme seeks to replicate the composition of the Nifty Financial Services Ex-Bank Index. Now if you see the table for top constituents by weightage , HDFC has the highest weightage in this Index. But post the merger, it will become HDFC Bank and since it is a bank, we believe it will not remain a part of this Index.
Other financial companies, namely Bajaj Finance, Bajaj Finserv, SBI Life Insurance have a huge potential for growth in the coming 2-3 years.
While analyzing a fund/NFO the stock picking skills of the Fund Manager also need to be taken into consideration. We have done a sample comparison of the funds managed by the three Fund Managers(FM). You can refer the tables above for the same. If you take a look, you will notice that they do not have a long track record. However, since the Fund will be replicating the Index, stock picking skills will not come into much play here.
Keeping in mind that the companies are strong blue chip companies, a small investment can be done in this NFO.
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