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Monday, September 22, 2014

Kotak Equity Savings Fund Floats On

NFO period is from 17 September to 01 October 2014 

Kotak Mutual Fund has launched a new fund named Kotak Equity Savings Fund, an open ended equity fund. The new fund offer price for the scheme is Rs 10 per unit. The new issue will open for subscription from 17 September to 01 October 2014. 

The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market and enhance returns with a moderate exposure in equity & equity related instruments. 

The scheme offers two options viz. growth and dividend option. Dividend option offers payout and reinvestment facility. 

The scheme would invest 65%-90% of its assets in equity and equity related instruments including derivatives with medium to high risk profile, of which 40%-75% of assets in cash-futures arbitrage with low to medium risk profile, 15-25% in Net long equity exposure with high risk profile and invest 10%-35% of assets in debt securities & money market instruments (including margin for derivatives) with low risk profile. 

Minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry load: Nil. 

Exit load: 1%, for exit within 1 year from date of allotment of units and nil for exited after 1 year from the date of allotment of units. 

The fund is benchmarked against Crisil Liquid Fund Index and CNX Nifty (75% of Crisil Liquid Fund Index & 25% in CNX Nifty). 

Deepak Gupta and Abhishek Bisen will be the fund managers of the scheme. 
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