Kotak Mahindra Mutual Fund has approved the declaration of dividend under the Kotak FMP 3M Series 17. The record date for dividend is set as 9 August 2007. The NAV for the schemes stood at Rs. 10.233 on 2 August 2007. The AMC plans to distribute 100% of distributable surplus as on record date.
Kotak FMP 3M Series 16 is a close-ended debt fund with an objective to generate returns through investment in debt and money market instruments with a view to significantly reduce the interest rate risk.
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