Question : Which mutual fund has recently(December 2021) launched India’s first ever Nifty Alpha 50 ETF ?
a. Kotak Mahindra Mutual Fund
b. HDFC Mutual Fund
c. SBI Mutual Fund
d. Axis Mutual Fund
Ans. a.
Related facts —
- Kotak Mahindra Mutual Fund has recently(December 2021) launched India’s first ever Nifty Alpha 50 ETF named the Kotak Nifty Alpha 50 ETF.
- It is an open-ended scheme that will track Nifty Alpha 50 index and gives investors an opportunity to invest in a well-diversified portfolio of stocks with high Alphas.
- It will track the performance of 50 stocks listed with NSE with high Alpha in the last one year.
- As per the criteria, these companies are selected from top 300 companies by average free-float market capitalization and average daily turnover for the last six months.