Kotak MF Declares Dividend - July 12, 2008

Kotak Mutual Fund has declared dividend under the dividend option of Kotak Fixed Maturity Plan 3 Months Series 29. The fund house has fixed 15 July 2008 as the record date for the payment of dividend. It proposes the 100% of distributable surplus available on the record date, as dividend subject to deduction of applicable dividend distribution tax. The NAV of the scheme was recorded at Rs 10.1969 as on 8 July 2008. Kotak Fixed Maturity Plan 3 months Series 29 was launched in April 2008. The scheme is a close-ended debt fund with an investment objective of generating returns through investments in debt and money market instruments with a view to significantly reduces the interest rate risk.