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Informist, Tuesday, Jun. 9, 2026

 

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--Kotak AMC MD: Mkt worried about future, rightfully ignoring past successes
--Kotak AMC MD Nilesh Shah's comments at ICICI Securities event
--Kotak AMC MD: Growth in midcaps suggests econ not in bad shape as some say
--Kotak AMC MD: Poor Indians not becoming rich at faster pace
--Kotak AMC MD: Expect India to focus on solar, nuclear energy going forward
--Kotak AMC MD: India needs capital from domestic, foreign investors
--Kotak AMC MD: May remove gold ETF curbs if FCNR(B) measure successful
--Kotak AMC MD: To continue with Gold ETF curbs until things normalise
--Kotak AMC MD: Restricted funds in gold ETFs in line with govt view

 

By Anshul Choudhary

 

MUMBAI – Kotak Mutual Fund has restricted investments in its gold exchange-traded fund to support Prime Minister Narendra Modi's calls for adopting austerity measures amid the ongoing war in West Asia, the fund house's Managing Director Nilesh Shah told Informist. Kotak MF has restricted lump sum and new investment in its gold ETF, but is yet to issue an official notification for the same, a company source said.

 

The fund house may remove the curbs on investments in gold exchange-traded fund once the geopolitical situation improves. There is also a possibility that the fund house may remove curbs if the concessional foreign exchange swap facility announced by the Reserve Bank of India attracts large flows from foreign investors, Shah said on the sidelines of an event by ICICI Securities.

 

Shah said strong growth in mid-cap companies suggests the economy is not as bad as some suggest. The top 100 mid-cap companies' cumulative adjusted net profit during the March quarter rose 38% on year, more than over 5% growth in the net profit of Nifty 50 index companies.

 

Shah said there is a need to prevent people from losing their money by investing in ponzi schemes, falling for digital frauds, and exposure to derivatives trading. Indians have lost INR 5 trillion due to this, he said. "Imagine if we can retain that INR 5 lakh crore in the hands of the consumer, that will be equivalent to our consumer staple sales," he said.

 

Shah called on the government and investors to put their faith behind entrepreneurs and in people who have unusual ideas. He did not support the culture of political parties offering freebies to citizens and said authorities should rather focus on making them capable of earning for themselves.

 

On a question on whether the Indian market needs foreign investors, Shah said India needs capital from both foreign and domestic investors. "Our country needs capital for growth. Many of the FPIs have provided capital to startups, which we failed to provide," he said.

 

Due to the West Asia war, Shah expects India to invest more in solar, thermal, and nuclear energy going forward. "Undoubtedly, government will focus on electrification of India," he said. "There will be lot of trends which will emerge but you still have to go back and find right entrepreneurs."  End

 

Edited by Deepshikha Bhardwaj and Avishek Dutta

 

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