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Kotak Mutual Fund is an Indian mutual fund that is managed by Mahindra Asset Management Company (KMAMC). KMAMC started operations in December 1998 and as of 2018, had approximately 74 Lakh investors in various schemes. [6] The fund is a wholly-owned subsidiary of Kotak Mahindra Bank.
In SIPs, a fixed amount of money is debited by the investors in bank accounts periodically and invested in a specified mutual fund. The investor is allocated several units according to the current Net asset value. Every time a sum is invested, more units are added to the investor's account. [1]
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$590 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.
In April 2017, Kotak Mahindra Bank acquired Old Mutual's 26% stake in Kotak Mahindra Old Mutual Life Insurance for ₹ 1,292 crore (US$198.4 million), making the life insurance company its wholly-owned subsidiary. [30] In 2021, Kotak Mahindra Bank sold its 8.57% stake in Airtel Payments Bank to Bharti Enterprises for ₹ 295 crore (US$39.81 ...
Considering the active schemes, UTI Mutual Fund is one of the oldest mutual fund companies in India. UTI Mutual Fund has been a pioneer in launching various schemes, such as the UTI Unit Linked Insurance Plan (ULIP) with life and accident cover (launched in 1971), UTI Master Share (launched in 1986), India's first Offshore Fund – India Fund ...
The Kotak Mahindra Group was founded in 1985 as a provider of financial services. [8] [9] In February 2003, Kotak Mahindra Finance Ltd (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI) to conduct banking operations in the country and was renamed as Kotak Mahindra Bank, the parent company of Kotak Life Insurance. [10]
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