Kotak Mutual Fund has launched the NFO Kotak FMP Series 88, a close ended debt scheme.
The NFO opens for subscription on May 24, 2012 and closes on May 28, 2012. No entry and exit load charge is applicable for the scheme. The duration of the scheme will be 370 days from the date of allotment. The scheme offers dividend payout and growth option.
The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs 5000 and in multiple of Rs 10 for purchase and switch - ins.
The schemes will be managed by Abhishek Bisen and Mayank Prakash.
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.
