Kotak Mutual Fund has filed an offer document with SEBI to launch Kotak Fixed Maturity Plan 370 days Series 1, which is a close ended debt scheme. The new fund offer (NFO) price for the scheme is Rs 10 per unit The objective of the scheme is to generate returns through investments in debt as well as money market instruments. The scheme shall offer growth and dividend options. Dividend option will offer dividend payout option.
The scheme will invest 100% in debt and money market instruments and government securities with low to medium risk profile. The debt instruments shall be deemed to include securitised debts (excluding foreign securitised debt) and investment in this shall not exceed 50% of the net assets of the scheme. From time to time the scheme may hold cash to meet the redemption requirements. The scheme will not charge any entry or exit load.
The fund will be listed on NSE. The minimum application amount will be Rs 5,000 and in multiples of Rs 10 for purchases and switch-ins during NFO. However, the Fund seeks to collect a minimum subscription amount of Rs 2 crore in the New Fund Offer of Kotak FMP 370 days Series 1.
The scheme will invest 100% in debt and money market instruments and government securities with low to medium risk profile. The debt instruments shall be deemed to include securitised debts (excluding foreign securitised debt) and investment in this shall not exceed 50% of the net assets of the scheme. From time to time the scheme may hold cash to meet the redemption requirements. The scheme will not charge any entry or exit load.
The fund will be listed on NSE. The minimum application amount will be Rs 5,000 and in multiples of Rs 10 for purchases and switch-ins during NFO. However, the Fund seeks to collect a minimum subscription amount of Rs 2 crore in the New Fund Offer of Kotak FMP 370 days Series 1.
No comments:
Post a Comment