Kotak Mutual Fund has announced the changes in load structure of Kotak Floater Long Term Scheme, which will be effective from January 23, 2009. Hereafter, the scheme will not charge entry load nor exit load. However, the new load structure will be applicable only on a prospective basis to units purchased on after the January 23, 2009.
Kotak Floater Long Term Scheme is an open ended debt scheme aims to reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities as well as the money market instruments and using appropriate derivatives.
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