Kotak MF unveils 24 Months Fixed Maturity Plan

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Kotak MF unveils 24 Months FMP
Kotak Mutual Fund has launched a new fund offer named as Kotak FMP Series 55 on July 28, 2011. It"s a close-ended income scheme with duration of 24 months from the date of allotment.

Investment objective:
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. The scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.

The fund seeks to collect a minimum subscription amount of Rs 1 crore under the scheme during the NFO period.

The scheme will allocate 100% of assets in debt securities and money market instruments with low to medium risk profile.

Basic Details:
NFO Opens: July 28, 2011
NFO Closes: August 9, 2011
NFO Price: Rs.10 per unit
Options: Dividend Payout and Growth option
Minimum Application Amount: Rs 5,000 per application and additional Rs 10, thereafter
Exit Load: Nil
Listing: Bombay Stock Exchange
Benchmark: CRISIL Short Term Bond Fund Index
Fund Manager: Mr Deepak Agrawal and Mr Abhishek Bisen

OneIndia Money

Read more about: mutual funds, kotak, nfo
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