Kotak Mutual Fund (MF) has launched a new fund named as Kotak MF FMP Series 175, a close ended debt scheme with the duration of 1100 days from the date of allotment of units.
The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit.
The new issue opens for subscription from 17 June to 18 June 2015.
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 scheme offers growth & dividend payout option.
The scheme shall invest 80% to 100% of assets in debt securities (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities with low risk profile.
Investment in derivatives will be up to 50% of the net assets of the scheme.
The minimum application amount is Rs. 5,000.
The units of the scheme will be listed on BSE on allotment.
Entry load and exit load charge will be nil for the scheme.
The scheme will be managed by Mayank Prakash and Abhishek Bisen.
The scheme's performance will be benchmarked against CRISIL Composite Bond Fund Index.
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