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Kotak Mahindra Mutual Fund (MF) has launched Kotak Nifty 100 Low Vol 30 ETF, an open-ended scheme replicating/tracking the Nifty 100 Low Volatility 30 Index. The NFO opened for subscription on March 15, 2022 and closes on March 22, 2022.

As per the NSE Indices’ information about the index, the NIFTY 100 Low Volatility 30 Index aims to measure the performance of the low volatile securities in the large market capitalisation segment. The securities are selected from the NIFTY 100 index and should be available for trading in the derivatives segment (F&O). The selection of securities and their weights in NIFTY100 Low Volatility 30 is based on volatility. The volatility of the securities is calculated as the standard deviation of daily price returns for last one year.

In order to make the index replicable for passive products, as per the NSE, the weightage of the stocks with turnover less than the stock having the lowest turnover in NIFTY 50, has been capped at 3%.

The top constituents of the index by weightage as of February 28, 2022, are Dabur India, Britannia Industries, Nestle India, Hindustan Unilever, Tata Consultancy Services, Bajaj Auto, Hero MotoCorp, Marico, Infosys and Cipla.

The entry load and exit load is nil for the scheme. The minimum investment amount is 5,000 and in multiples of 1 thereafter.

The performance of the scheme is benchmarked against the Nifty 100 Low Volatility 30 Index (Total Return Index) and its fund managers are Devender Singhal, Satish Dondapati and Abhishek Bisen.

The investment objective of the scheme is to replicate the composition of the Nifty 100 Low Volatility 30 Index and to generate returns that are commensurate with the performance of the NIFTY100 Low Volatility 30 Index, subject to tracking errors. 

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