Kotak MF unveils Fixed Maturity Plan

Kotak Mutual Fund has launched a new fund offer today, named as Kotak FMP Series 65. It’s a close-ended income scheme with duration of 18 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 20 crore under the scheme during the NFO period.

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

Basic Details:
NFO Opens: November 16, 2011
NFO Closes: November 23, 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. Abhishek Bisen and Mr. Mayank Prakash

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