Date : Aug-12-2009
Kotak Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch a close ended debt scheme- Kotak FMP 19M Series 2. The new fund offer (NFO) price for the scheme is Rs 10 per unit.
The scheme's primary investment objective is to seek returns through investments in debt as well as money market instruments with a view to significantly reduce the interest rate risk. The scheme shall offer growth and dividend payout options. The scheme will invest 100% in Debt and Money Market instruments and government securities. The debt instruments shall be deemed to include securitised debts (excluding foreign securitised debt) and investment in securitised debts may be upto 100% of the net assets of the scheme.
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