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Tuesday, October 28, 2014

Kotak FMP Series 169 (1097 Days) Floats On

NFO period is from 27 October to 31 October 2014

Kotak Mutual Fund has launched a new fund named as Kotak FMP Series 169, a close ended debt scheme with the duration of 1097 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 opens for subscription from 27 October to 31 October 2014. 

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 offers growth and dividend payout option. 

The scheme shall invest 80%-100% of assets in debt securities (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities with low risk profile. 

Investment in derivatives will be up to 50% of the net assets of the scheme. 

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 units of the scheme will be listed on BSE on allotment. 

Entry load and exit load charge will be nil for the scheme. 

The scheme's performance will be benchmarked against CRISIL Composite Bond Fund Index. 

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