Kotak Wealth Builder Debuts At Rs 9.9954

Kotak Wealth Builder - Series 1 debuted at Rs 9.9954 per unit as against a face value of Rs 10 per unit. The scheme, whose initial public offering closed on January 31, 2007 re-opened for fresh investments and sales yesterday. Kotak Wealth Builder - I is a close - ended debt scheme with 36 months maturity. The scheme has been rated AAA (so) by CRISIL. The objective of the scheme is to generate income by investing in the Debt & Money Market instruments and to generate capital appreciation by investing in equity derivatives. (Check out - Mutual Fund New Fund Listings). The scheme was launched on January 2, 2007. Benchmarked against CRISIL MIP Blended Index the fund would invest 70-100% in Debt and Money Market Securities, 0-30% in Equity Derivatives.