Kotak Mahindra Mutual Fund has come out with its close-ended debt scheme Kotak Fixed Maturity Plan-16 M Series 1. The new fund offering (NFO) close today. The scheme was open for subscription from 21 December 2006 to 27 December 2006.
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. The minimum investment amount in the scheme is Rs.5000. The scheme carries an exit load of 0.5%, if the units are redeemed before maturity. However, there is no exit load in case of redemption of units on maturity of the scheme. The scheme offers both growth and dividend option. The fund manager for the scheme is Deepak Agarwal.
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