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New funds on cards from Kotak and Lotus India

June 20th, 2007

Kotak Mahindra is coming up with a fund targeted at Islamic investors from the West Asia region. Titled Shariah Fund will wrap in a ‘local tie-up’ and aims at mobilizing $150-$200 million. With this, the fund would become the first Shariah-compliant fund that would tap the underlying Indian assets.

Ajay Bagga of Lotus India too seems to be aggressive. Having already launched a series of funds so far, Ajay is now focusing on expanding the AMC’s fund offerings. In an interview to a business daily, he quoted, “The fund house has also filed for a gilt fund and is looking at launching longer-term debt funds.” The AMC is also working on expanding its retail portfolio by expanding and increasing its penetration.

Entry Filed under: Mutual Funds, Lotus India Mutual Fund, NFO, Kotak Mutual Fund