Kotak mutual fund launched a new scheme named as Kotak FMP Series 44. The scheme is a close ended debt scheme, having the time duration of 370 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 will open for subscription on 15th April 2011 and will close on 18th April 2011.
Exit and entry load charge will be nil for the scheme. The schemes performance will be standardized against Crisil Short Term Bond Index. The scheme offers both growth as well as dividend payout option. The minimum application amount is Rs. 5,000 under the scheme and in multiples of Rs. 10 thereafter. Mr Deepak Agrawal and Mr Abhishek Bisen be the Fund Manager for the scheme The fund looks for a minimum subscription amount of Rs. 1 crore under the scheme as collection.
The asset allocation of scheme will be in such a way that the scheme’s objective of generating return will be meet but with a minimum exposure to risk, hence 100 per cent of assets will be allocated in debt, money market instruments and government securities with low to medium risk profile. Therefore, through investment in a portfolio of debt and money market instrument, the fund’s primary objective is to avoid interest rate volatility for generating the income.
The fund had also launched a similar scheme on 18th March 2011 named as Kotak FMP S – 42. The scheme is showing the positive return of 0.46 per cent during March 29, 2011 to April 13, 2011. The current NAV of the scheme is Rs. 10.0684 as on 13th April 2011 under dividend option of the scheme. Another scheme in same category, which commenced on 14th March 2011, named as Kotak FMP S – 40, is posting the positive return of 0.43 per cent during March 29, 2011 to April 13, 2011.
No comments:
Post a Comment