Kotak MF Launches 370 Days Fixed Maturity Plan

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Kotak MF Launches 370 Days Fixed Maturity Plan
Kotak Mutual Fund has launched a new fund named as Kotak FMP Series 74, a close ended debt scheme with the duration of 370 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.

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.

Basic Details:
NFO Opens: February 2, 2012
NFO Closes: February 6, 2012
NFO Price: Rs 10 per unit
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
Benchmark: CRISIL Short Term Bond Fund Index.
Exit Load: Nil
Fund Managers: Abhishek Bisen and Mayank Prakash.


Story first published: Friday, February 3, 2012, 11:58 [IST]
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