Kotak Mahindra Asset Management Company (KMAMC) has launched the Kotak NIFTY Midcap 150 Momentum 50 Index Fund. This new open-ended scheme replicates the NIFTY Midcap 150 Momentum 50 Index.

The new fund offer (NFO) open for public subscription until October 3, 2024.

The NIFTY Midcap 150 Momentum 50 Index tracks the top 50 midcap companies from the Nifty Midcap 150 Index, selected for their momentum scores.

Momentum investing targets stocks with a positive price trend over the last six to twelve months. This approach aims to capitalise on strong upward movements in stock prices.

The Kotak NIFTY Midcap 150 Momentum 50 Index Fund provides an opportunity for investors to tap into the high-growth midcap segment.

The fund is designed for those interested in stocks demonstrating recent positive performance trends.

Nilesh Shah, Managing Director of Kotak Mahindra AMC, stated, “The new fund aligns with our strategy to offer both active and passive investment products. It provides a systematic way to invest in midcap companies using a momentum strategy, combining growth potential with minimal active management.”

Devender Singhal, Executive Vice President and Fund Manager at Kotak Mahindra AMC, added, “Historically, the NIFTY Midcap 150 Momentum 50 Index has outperformed other midcap indices. This fund offers a disciplined approach to investing in high-growth midcap stocks, catering to investors looking for growth with a systematic investment strategy.”

Investors can start with a minimum investment of ₹100, with no upper limit.