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Wednesday, October 29, 2014

Kotak NV 20 ETF files offer document with Sebi

An Open Ended Exchange Traded Fund 

Kotak Mutual Fund has filed offer document with Sebi to launch Kotak NV 20 ETF, an open ended Exchange Traded Fund. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of stocks as represented by the NV 20 Index, subject to tracking errors. 

Plans/ option(s): Dividend payout option 

Benchmark: NV 20 Index 

Loads: Nil 

Minimum Application Amount: Rs.5,000 and in multiples of Rs 1000 thereafter. 

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 95-100% in stocks comprising NV 20 Index and up to 5% in cash and debt/money market instruments. 

Fund Manager: Deepak Gupta 
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