According to the Kotak, the mutual fund will seek to invest in large-cap, mid-cap and small-cap Indian companies with high growth potential, and is intended to provide US retail and institutional investors with an exposure across all key sectors of the Indian economy.
The group said that the Denver-based ALPS Advisors will serve as the fund’s investment advisor while Kotak Mahindra UK, a subsidiary of the group’s Kotak Mahindra Bank, will act as sub-advisor and will manage the fund’s investment portfolio.
Kotak Mahindra is the group’s North American business unit based in New York.
Kotak Mahindra CEO and president Ravilochan Pola said that the launch of the ALPS Kotak India Growth Fund is a natural next step in the expansion of Kotak Group’s business and presence in North America.
"Launching our first US fund leverages the groups strong asset management and India equities research capabilities to provide US investors with an opportunity to potentially benefit from the insights and perspective provided by an Indian financial institution with vast fund management experience, deep roots and nationwide presence in India," Pola said.
Kotak Mahindra UK’s Nitin Jain will serve as principal portfolio manager for the fund and will oversee a team of fund managers and analysts seeking to identify the most attractive growth companies among India’s top listed companies representing all levels of market capitalization and across all sectors.
