Kotak Alternate Asset Managers’ Iconic Fund raises Rs 2,000 crore

Kotak Alternate Asset Managers Limited (Kotak Alt) today announced that its Kotak Iconic Fund has raised Rs 2,000 crore or around $240 million.

The open-ended fund has been conceptualised as an equity multi-advisor portfolio solution. The fund has maintained a flexible approach by adopting diversified active and passive strategies across market capitalisation and tactical allocations, the release notes.

What is Kotak Iconic Fund?

Kotak Iconic Fund is a SEBI-registered category III Alternative Investment Fund (AIF) managed by Kotak Alternate Asset Managers Limited, the Kotak Group's alternate asset management arm.  

In today’s dynamic investing landscape, investors are finding it increasingly difficult to keep up with rising volatility and an ever-changing market environment. This makes it challenging for investors to build and maintain equity portfolios across market cycles.

Kotak Iconic Fund solves this with its disciplined framework-based investing & risk management to deliver a smooth investing journey. 

Leadership comments 

Lakshmi Iyer, CEO – of Investments and Strategy, Kotak Alternate Asset Managers Limited, said, "The journey to INR 2,000 crore in AUM has been marked by unwavering dedication, resilience, and the trust of investors who have chosen Kotak Iconic as their preferred investment vehicle in the Indian equities space.

Iyer claimed that Kotak Iconic Fund helps bring efficiency and operational ease to investors’ equity journey. "The fund's team of seasoned professionals consistently identifies investment strategies that align with the fund's investment objective," he added.

Nishant Kumar, Head of Discretionary Portfolio Solutions, Kotak Alternate Asset Managers Limited, said,  “Kotak Iconic offers investors a one-stop solution for their equity allocation that dynamically handles strategy selection, allocation and performance monitoring. Kotak Iconic Fund is built on a foundation of rigorous research, disciplined framework-based investing, risk management and a deep understanding of the Indian economic landscape.”.

Providing an investing platform for non-residents

Kotak Iconic Fund is also able to accept inflows from five offshore jurisdictions, including the US, UK, Singapore, DIFC and Hong Kong, providing a convenient investing platform for non-residents to access Indian equity markets.

Kotak Alt, under Kotak Optimus and Kotak Iconic, offers multi-asset and equity discretionary portfolio solutions to both resident and non-resident investors having varying investment objectives.