Kotak Mahindra Mutual Fund has filed an offer document for Kotak Fixed Maturity Plan 17 Months Series 1. Kotak Fixed Maturity Plan 17 Months Series 1is a closed ended debt scheme with 17 months maturity. The issue price will be Rs. 10 per unit. The investors will have the choice of two plans viz. retail plan and institutional plan. Each plan offers sub-option of growth and dividend. The dividend option offers sub option of dividend payout and dividend reinvestment
The minimum investment under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. The minimum investment under retail plan is Rs 50 lakh and in multiples of Re 1 thereafter.
There will not be an entry load under any plan of the scheme. The scheme carries an exit load of 1.50% if the investment is redeemed before maturity of the scheme.
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 mainly invest in debt / money market instruments and government securities, normally maturing in line with the maturity profile of the scheme.
The benchmark index for the scheme will be CRISIL Composite Bond Fund Index. Mr. Deepak Agrawal will work as a fund manager for the scheme.
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