Kotak Lifestyle new fund offer raises over Rs 860 cr

Mumbai, Mar 10 (UNI) Kotak Lifestyle has received an overwhelming response from investors, garnering Rs 860 crore in its recently concluded New Fund Offer (NFO).

Commenting on the response, Mr Santosh Kirkire, NFO CEO Kotak Mahindra Asset Asset Management Company, said, ''The exceptional response received by Kotak Lifestyle is testimony of the investor community's belief in Indian surging economy, as also in Kotak Mahindra AMC's fund management capabilities.'' The Kotak Lifestyle NFO received around 85,000 applications covering 14 locations. Remarkaably with the launch of this scheme, Kotak Mutual Fund has tapped many new locatons.

The inverstment objective of the scheme is to generate long capital appreciation from a portfolio of equity related securities generally diversified across companies, which are likely to benefit by by chaning lifestyle and rising consumerism in India.

Kotak Lifestyle will follow a bottom up investment approach with up to 65-100 per cent equities and up to 35 per cent money or debt market securties.

UNI AR KU AW1815