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Kotak Mahindra MF has launched the NFO of Kotak FMP Series 91 (370 Days), a close ended income scheme.
The NFO opens for subscription on July 24, 2012 and closes on July 30, 2012. In terms of SEBI Circular No. SEBI/IMD/CIR No. 4/168230/09 dated June 30, 2009, no entry load will be charged on purchase / additional purchase / switch-in. The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. No exit load will be applicable for the scheme.
The minimum subscription amount is Rs.5000.
The scheme’s performance will be benchmarked against CRISIL Short Term Bond Index and its fund managers are Mayank Prakash and Abhishek Bisen.
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 invest in debt and money market securities, maturing on or before maturity of the scheme. There is no assurance that the investment objective of the scheme will be achieved.
Source : Accord Fintech