Kotak MF Launches 380 Days Fixed Maturity Plan

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Kotak MF Launches 380 Days FMP
Kotak Mutual Fund has launched a new fund named as Kotak FMP Series 80, a close ended debt scheme with the duration of 380 days from the date of allotment of units.

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 20 crore under the scheme.

Allocation of funds:
The scheme will allocate 60% to 100% of assets in debt & money market instruments with low to medium risk profile. On the other side it would allocate upto 40% of assets in government securities with low risk profile.
95% to 100% of net assets would be invested in AAA rated certificate of deposits, upto 5% in AAA rated commercial papers and upto 5% in non convertible debentures.

Basic Details:
NFO Opens: March 9, 2012
NFO Closes: March 13, 2012
NFO Price: Rs 10 per unit
Benchmark: Crisil Short Term Bond Index.
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
Exit Load: NIL
Fund Managers:Mr. Abhishek Bisen and Mayank Prakash.


Read more about: mutual funds, kotak
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