NEW YORK, April 11, 2011 /PRNewswire/ -- Kotak Group, one of India's leading diversified financial services providers, continues to build its U.S. presence with the launch of the first U.S. mutual fund from an India-based firm. The ALPS Kotak India Growth Fund seeks to achieve long-term capital appreciation by investing in large-cap, mid-cap and small-cap Indian companies with high growth potential, and is intended to provide U.S. retail and institutional investors with an opportunity to gain broad exposure across all key sectors of India's large and growing economy. ALPS Advisors Inc., will serve as the Fund's investment advisor while Kotak Mahindra (UK) Limited, a subsidiary of the Group's flagship Kotak Mahindra Bank, will act as sub-advisor and will manage the Fund's investment portfolio.

"The launch of the ALPS Kotak India Growth Fund is a natural next step in the expansion of Kotak Group's business and presence in North America," said Ravilochan Pola, CEO and President of Kotak Mahindra Inc., the Group's North American arm based in New York. "Launching our first U.S. fund leverages the Groups strong asset management and India equities research capabilities to provide U.S. investors with an opportunity to potentially benefit from the insights and perspective provided by an Indian financial institution with vast fund management experience, deep roots and nationwide presence in India."

Kotak Mahindra (UK) Ltd.'s Nitin Jain will serve as principal Portfolio Manager for the Fund and will oversee a team of fund managers and analysts seeking to identify the most attractive growth companies among India's top listed companies representing all levels of market capitalization and across all sectors. "The India growth story is a multi-faceted one, driven by a number of key, sometimes inter-related themes and trends, including demographic led growth in consumption, expansion of the financial sector, massive investment in infrastructure, continued growth in India's role as an outsourcing center and the cyclical impact of commodities," explained Mr. Jain. "The Fund's investment strategy reflects this dynamic macroeconomic environment and our flexible multi-cap, cross-sector approach is intended to maximize returns and lower volatility on behalf of our investors."

The ALPS Kotak India Growth Fund is distributed by ALPS Distributors, Inc. and is currently available through Oppenheimer & Co., Commonwealth, Credit Suisse, Fidelity, JP Morgan, Pershing, Schwab and TD Ameritrade.

About The Kotak Group

The Kotak Group is one of India's largest diversified financial services providers with significant operations in commercial banking, retail banking, asset management, stock broking, insurance and investment banking. With offices in London, New York, Santa Clara, Singapore, Mauritius and Dubai, the Kotak Group has nearly $11 billion in assets under management, including $2 billion in assets from non-Indian investors. Kotak manages a broad range of onshore and offshore funds across all assets classes. The Group employs more than 20,000 people and serves more than 8 million customers in India and around the world.

Incorporated in the United Kingdom and authorized and regulated by the Financial Services Authority in the United Kingdom, Kotak Mahindra (UK) Limited (KMUK) is a member of the London Stock Exchange and is registered with the Securities Exchange Board of India as a Foreign Institutional Investor. KMUK has branch offices in Singapore and Dubai that are regulated by the Monetary Authority of Singapore and the Dubai Financial Services Authority respectively. KMUK is also registered as an investment adviser with the Securities and Exchange Commission in the U.S.

About ALPS

Headquartered in Denver with offices in Boston, New York, and Seattle, ALPS is a twenty five year old financial ser vices firm focused on asset services and asset gathering. Now with more than 300 employees, nearly 200 clients, and an executive team that's been in place for over 15 years, ALPS continues to actively promote all of its various business segments, from asset servicing through ALPS Fund Services, Inc. to asset gathering through ALPS Distributors, Inc. and ALPS Advisors, Inc. As of December 31, 2010, the firm manages more than $2.7 billion in assets and provides servicing to more than $288 billion in client assets. For more information about ALPS and the services available, visit www.alpsinc.com, and for additional information about ALPS products, visit www.alpsfunds.com.

Important Notice

The views mentioned above are that of the fund management team at Kotak Group and are not intended as a recommendation or for the purpose of soliciting any action in relation to any investments, or to be otherwise relied upon for any purpose.

In the preparation of the material contained in this document we have used information that is publicly available, including information developed in-house. Information gathered & material used in this document is believed to be from reliable sources. We do not warrant the accuracy, reasonableness and/or completeness of any information.

Investments in India are subject to a number of risks including, but not limited to, risk of losing some or all of the capital invested, high market volatility, variable market liquidity, geopolitical risks (including political instability), exchange rate fluctuations (between the currency of the fund's share class and the Indian Rupee), changes in tax regime and restrictions on investment activities of foreign investors. In addition, shares in the fund may not be readily redeemable. Past investment performance should not be viewed as a guide to, or indicator of, future performance and the value of investments and the income derived from them can go down as well as up. Investments in India should be considered only as part of a diversified overall portfolio of assets. Detailed information on the fund and associated risks is contained in the fund prospectus.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1.866.759.5679 or visit www.alpsfunds.com.  Read the prospectus carefully before investing.

The ALPS Kotak India Growth Fund is distributed by ALPS Distributors, Inc.

For more information, please contact:

Elizabeth Cheek
Hill & Knowlton
1.212.885.0682 TEL
elizabath.cheek@hillandknowlton.com

SOURCE The Kotak Group