Kotak Mutual Fund has filed draft documents with Sebi for two index funds: Kotak Nifty Midcap 150 Index Fund and Kotak BSE Sensex Index Fund.

Kotak Nifty Midcap 150 Index Fund

Kotak Nifty Midcap 150 Index Fund will be an open-ended scheme replicating/tracking the Nifty Midcap 150 Index.

The investment objective of the scheme will be to provide returns that, before expenses, correspond to the total returns of the securities as represented by the underlying index, subject to tracking errors.

The scheme will be benchmarked against Nifty Midcap 150 Index (Total Return Index (TRI)). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen. The minimum application amount will be Rs 100 and any amount thereafter.