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Kotak Mahindra Mutual Fund has launched a new fund named as Kotak Yearly Interval Plan - Series 1, a debt oriented interval scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 12 November to 19 November 2018. The investment objective of the scheme is to generate returns through investments in debt and money market instruments. The scheme offers two options viz. growth and dividend (payout and reinvestment) options. The scheme would invest upto 100% of assets in debt and money market instruments including government securities with low to medium risk profile. Minimum application amount is Rs 5000 and in multiples of Re. 1 for purchase and Re. 0.01 for switch-ins. The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. Entry load and exit load charge will be nil for the scheme. Benchmark Index for the scheme is CRISIL Low Duration Index. The fund manager of the scheme is Deepak Agrawal. Powered by Capital Market - Live News
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