Kotak Mahindra Mutual Fund launches new Close Ended Scheme
22/04/2015 09:59
Kotak Mahindra Mutual Fund has launched a new close ended equity scheme named “Kotak India Growth Fund Series I” with maturity period of 3 years after the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on April 13 and will close on April 27. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CNX 200. Harish Krishnan will be the fund manager of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate capital appreciation will be met by investing in a diversified portfolio of equity & equity related instruments across market capitalisation and sectors. Hence, the scheme will allocate 80 to 100 per cent of asset in Equity and Equity Related Securities and 0 to 20 per cent of asset in Debt and Money Market Securities.
22/04/2015 09:59
Kotak Mahindra Mutual Fund has launched a new close ended equity scheme named “Kotak India Growth Fund Series I” with maturity period of 3 years after the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on April 13 and will close on April 27. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against CNX 200. Harish Krishnan will be the fund manager of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate capital appreciation will be met by investing in a diversified portfolio of equity & equity related instruments across market capitalisation and sectors. Hence, the scheme will allocate 80 to 100 per cent of asset in Equity and Equity Related Securities and 0 to 20 per cent of asset in Debt and Money Market Securities.
