Kotak Mahindra MF Launches Kotak Fixed Maturity Plan- 12 Months - Series 4

Kotak Mahindra Mutual Fund has launched Kotak Fixed Maturity Plan- 12 Months - Series 4. Scheme opens on 2 November 2007and closes 6 November 2007. 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 provides retail and institutional option. Both the options have growth and dividend sub options. The dividend sub option further offers dividend payout and dividend reinvestment facility under it.

The minimum investment under retail plan is of Rs.5000 and in multiple of Re. 1 thereafter. Under institutional plan the minimum investment is Rs 50 Lakh and in multiple of Re. 1 thereafter. The fund will invest up to 100% in money market instruments and debt instruments. The investment in securitised debt will be up to 50% of the net asset of the scheme. The investment in central and state government securities will be up to 50% of the net asset of the plan.