Kotak Mahindra Mutual Fund launched a new close ended debt scheme named "Kotak FMP Series 77 (13M)", with maturity time of 13 months.
The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription on February 21 and will close on February 23.
According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount was Rs 5,000 and in multiples of Rs.10 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.
The performance of the scheme will be standardized against Crisil Short Term Bond Fund index. Mayank Prakash and Abhishek Bisen will be the Fund Manager(s) of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns will be met, through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. Hence, the scheme will allocate 60 to 100 per cent of assets in debt and money market instruments and 0 to 40 per cent in government securities.
Dion Global Solutions Ltd
The New Fund Offer (NFO) price for the scheme was Rs 10 per unit. NFO opened for subscription on February 21 and will close on February 23.
According to the offer document filed with SEBI, the entry load was nil and since the scheme was planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.
The minimum application amount was Rs 5,000 and in multiples of Rs.10 thereafter. The two options were available under the Plan of the Scheme viz. Growth and Dividend Payout option.
The performance of the scheme will be standardized against Crisil Short Term Bond Fund index. Mayank Prakash and Abhishek Bisen will be the Fund Manager(s) of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns will be met, through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. Hence, the scheme will allocate 60 to 100 per cent of assets in debt and money market instruments and 0 to 40 per cent in government securities.
Dion Global Solutions Ltd
