Kotak MF to introduce more funds

Mumbai: Kotak Mahindra group''s asset management business plans to introduce several overseas funds to global and domestic investors, with underlying Indian assets. Senior officials said Kotak Mahindra plans to launch a Shariah Fund for Islamic investors in West Asia in June through a local tie-up. The fund is expected to mobilise $150-$200 million. This is the first time that a Shariah-compliant fund would have underlying Indian assets. Kotak MF also plans to launch an international real estate fund with multiple closures, with the first closure at about Rs125 crore to Rs150 crore.

Kotak Mahindra is planning tie ups with international players in various geographies for funds based on Indian assets. This will be on the lines of its recent fund launched in Australia in joint venture with a local partner. The bank also has plans to expand overseas through physical presence in West Asia.