Kotak FMP Series 60-69 files offer document with Sebi

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Kotak files offer document with Sebi
Kotak Mutual Fund files offer document with Sebi to launch Kotak FMP Series 60-69. These are 1 month to 60 months close ended debt scheme(s). The New Fund Offer price is Rs 10 per unit.

The Scheme aims at generating returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.

The scheme will invest 100% in Debt and Money Market instruments and government securities with low to medium risk profile, maturing on or before maturity of the scheme. The minimum application amount is Rs. 5,000 and in multiples of Rs 10 for purchase and switch-ins during the NFO period. The scheme provides both Growth and Dividend Payout options. Entry and exit loads are nil.

The scheme is standardised against the CRISIL Liquid Fund Index in case the Scheme(s) are launched for the tenure of 1 month to 3 months, CRISIL Short Term Bond Index in case the Scheme(s) are launched for the tenure more than 3 months up to 36 months, CRISIL Composite Bond Fund Index in case the Scheme(s) are launched for the tenure more than 36 months up to 60 months. The units of this scheme is proposed to be listed on National Stock Exchange.

Deepak Agarwal and Abhishek Bisen are the fund managers for the schemes. The fund seeks to collect a minimum subscription amount of Rs 1 crore under each scheme.

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