Kotak Mutual Fund Launches Fixed Maturity Plan Series 102

capital market | Mumbai |

NFO period is from 26 March to 28 March 2013

Kotak Mutual Fund has launched a new fund named as Kotak FMP Series 102 - 374 Days, a close ended debt scheme with the duration of 374 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 26 March and closes on 28 March 2013.

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 will invest in debt and money market securities, maturing on or before maturity of the scheme.

The scheme will allocate its entire corpus in debt and money market instruments with low to medium risk profile.

85% to 90% of net assets would be invested in AAA rated CPs and upto 5% in AAA rated CDs.

The scheme offers growth and dividend payout option.

Exit load charge will be nil for the scheme. The units of the scheme will be listed on BSE on allotment.

The scheme's performance will be benchmarked against Crisil Short Term Bond Index.

The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.

The scheme will be managed by Abhishek Bisen and Mayank Prakash.

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