Kotak Mutual Fund Files An Offer Document

Kotak Mutual Fund has filed an offer document for Kotak Fixed Maturity Plans 14 Months- Series 3 and Kotak Fixed Maturity Plans 14 Months- Series 4. These are close-ended debt schemes with 14 months maturity. The units of the scheme will be available at Rs 10 per unit. The schemes offer two plans - retail and institutional. For the retail plan, the minimum investment amount is Rs. 5000 and in multiples of Re.1 thereafter. For institutional plan the minimum investment amount is Rs.50 lakhs and in multiples of Re. 1 thereafter. While the entry load is nil, an exit load of 1.50% will be levied if units are redeemed before maturity period. The investment objective of the scheme(s) is to generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.