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Wednesday, February 04, 2009

Kotak MF announce changes in investment pattern

With effect from 01 February 2009

Kotak Mutual Fund has announced change in the investment pattern of Kotak Floater Short Term Scheme. The change in investment pattern will be as follows:

i. With effect from 01 February 2009 till 30 April 2009, scheme shall make investments about 65-100% in floating rate debt securities and / or money market instruments, other debt securities with outstanding maturity of upto 182 days.

ii. With effect from 01 May 2009, the scheme shall make investments upto 65-100% in the floating rate debt securities and / or money market instruments, other debt securities with outstanding maturity of upto 91 days and invest upto 35% in fixed rate debt securities.

Debt securities / instruments are deemed to include securitised debts and investment in securitised debts shall not exceed 50% of the net assets of the Scheme.The floating rate debt securities include floating rate debt securities and fixed rate debt securities with interest rate swap.

Money market instruments will include repos / reverse repos or other instruments permitted by RBI. Some of the investments may be in the call money market or in investments alternative to call money market. (As may evolve or be provided by RBI)

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