MUMBAI: After Reliance Mutual Fund, Kotak Mutual Fund has launched an open ended fund of fund scheme Kotak Gold Fund. The new fund offer is open from March 4, 2011 to March 18, 2011.
The Fund would be providing investors to take exposure to gold without having a demat account and will offer investors the option to invest Rs 1,000 per month through the SIP route. The investment objective of the scheme is to generate returns by investing in units of Kotak Gold Exchange Traded Fund.
The scheme will charge 2 per cent as exit load if units are redeemed within 6 months from the date of allotment and 1 per cent as exit load if units are redeemed after six months but on or before one year from the date of allotment. It will be benchmarked against the price of physical gold.
