MUMBAI, FEBRUARY 21: Kotak Mahindra Mutual Fund (KMMF) said on Monday it was launching two new equity schemes focused on technology and multinational companies (MNCs).The open-ended technology fund called K-Tech will invest in knowledge- based sectors like information technology services, software products, E-businesses, media, telecommunications, life sciences and biotechnology.The fund opens on February 24 and will close on March 24.
"There is still a selective momentum left for technology funds. The key is to figure out sub-segments and stocks that are good," C Jayaram, executive director of Kotak Mahindra Finance Limited (KMFL) told a news conference.Mutual funds have, in the recent past, floated a slew of emerging technology schemes to cash-in on to the boom in these sectors.
The fund's MNC scheme called the K-MNC will invest in companies known for good governance, transparency, access to technology, higher productivity and superior quality of products.
"MNC stocks have given superior returns. The valuations are attractive today in comparison to the recent past," SN Rajan, chief executive officer of KMMF said. KMMF has been set up by KMFL and manages funds worth Rs 10.0 billion in India.
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