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Kotak Mahindra AMC Launched India’s 1st international REIT Fund of Funds

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Kotak-Mutual-Fund-launches-India's-first-international-REIT-fund-of-fundsOn December 7, 2020, Kotak Mahindra Asset Management Company Limited (KMAMC) or Kotak Mutual Fund launched India’s first diversified REIT (Real Estate Investment Trusts) Mutual Fund namely “Kotak International REIT Fund of Funds”. It is an open-ended mutual fund scheme that will invest in units of SMAM Asia REIT Sub Trust Fund to provide long-term capital appreciation and income.

  • The SMAM Asia REIT Sub Trust Fund is one of the largest Asia Pacific (Excluding Japan) REIT funds investing in listed REITs in the Asia Pacific region. It is managed by Sumitomo Mitsui DS AMC Limited headquartered in Tokyo, Japan.
  • REIT owns, operates, or finances income-generating real estate i.e. it manages high value real estate property portfolios.

Key Points:

–This mutual fund scheme will invest in real estate projects like residential, office, data centres, warehousing, retail and hospitality.

–The New Fund Offer (NFO) for the same is open from December 7, 2020 till December 21, 2020.

–This fund offers an opportunity for domestic investors to get benefit from growth in the real estate market across the Asia Pacific region without owning the entire asset.

Recent Related News:

i.On May 19, 2020, In view of the ongoing lockdown in the country due to Coronavirus (COVID-19), Kotak Mahindra Bank has become the 1st bank in India to allow video Know your customer (KYC) facility for its customers opening savings account (SA) on Kotak 811 platform.

ii.On 13th October 2020, Nilesh Shah, the Managing Director(MD) of Kotak Mutual Fund was re-elected as the Chairman of the Association of Mutual Funds in India (AMFI).

About Kotak Mahindra Asset Management Company Limited (KMAMC):
Group President & Managing Director (MD)– Nilesh Shah
Headquarter– Mumbai, Maharashtra