Kotak Banking ETF
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|Fund Type||Sector - Financial Services|
More about this fund
|HDFC Bank Ltd||27.69%|
|ICICI Bank Ltd||18.65%|
|Kotak Mahindra Bank Ltd||16.33%|
|Axis Bank Ltd||14.57%|
|State Bank of India||10.87%|
|IndusInd Bank Ltd||4.55%|
|Bandhan Bank Ltd||2.04%|
|The Federal Bank Ltd||1.61%|
|RBL Bank Ltd||1.27%|
|Bank of Baroda||0.93%|
About Kotak Banking ETF
The Kotak Banking ETF is an open-ended exchange-traded fund which trades on the National Stock Exchange (NSE). The scheme seeks to provide returns (pre-expenses), which closely correspond to the total returns of stocks which the CNX Bank Index represents. This is subject to tracking errors.
Pros & Cons of Kotak Banking ETF
- Since the scheme tracks the Nifty Bank Index, the fund manager invests predominantly in stocks forming the underlying index in the same ratio. Being an ETF, investors can trade them on the stock exchange like any other shares.
- As on September 30, 2018, this scheme is not ranked under CRISIL’s Index Funds/ ETFs category.
- Further, it has generated returns of 17.62% per year over the last 3 years (as on December 31, 2018).
Fund Information and Statistics of Kotak Banking ETF
i) Inception / Launch date
The scheme was launched on 04 December 2014 by Kotak Mahindra Mutual Fund.
ii) Risk level
The scheme is suitable for investors seeking long-term capital growth and invests in stocks which comprise the underlying index in order to track it. It has a High risk-level.
Mutual Fund will repurchase units from Authorized participants on any business day in creation size units. The Mutual Fund will dispatch the redemption proceeds within 10 business days of the receipt of a valid redemption request at the official points of acceptance. Also, for smooth and efficient functioning of the scheme, the redemption proceeds may be paid in the form of ECS, direct credit, RTGS, demand draft, etc., as decided by the AMC.
iv) Fund Manager
Mr. Deepak Gupta (since December 04, 2014) is the Fund Manager of Kotak Banking ETF.
v) Entry / Exit load
There is no entry load or exit load in this scheme.
Tax benefits of investing in Kotak Banking ETF
The following taxes are applicable to income arising from investing in this scheme: 1. STCG tax (units are held for a period of less than 12 months) – 15% on redemption of units. 2. LTCG tax (units are held for a period of more than 12 months) – 10% without indexation benefits on the redemption of units.
About Kotak Mutual Fund
The fund house is managed by Kotak Mahindra Asset Management Company Limited (the “AMC”). It started operations in December 1998. The fund house offers schemes catering to investors with different risk appetite and was the first fund house in India to launch a dedicated gilt scheme. The AMC manages assets worth more than Rs 1.25 lakh crore.
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All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns