Kotak Mahindra Asset Management announced the launch of an exchange traded fund focusing on investing in the stocks that comprise the BSE SENSEX. The investment objective of the scheme is to provide returns that closely correspond to the total returns of the BSE SENSEX subject to tracking errors. The Scheme's performance will be benchmarked against BSE Sensex. The fund is open for subscription from May 07, 2008 till May 16, 2008. Fund Snapshot: NFO Opens: 7th May 2008 ; NFO Closes: 16th May 2008 ; Details of the Scheme Purchases During NFO: The minimum investment amount during the New Fund Offer is Rs.10,000 and in multiples of RS. 1000. In case of investors opting to switch into the Scheme from existing Schemes/Plan/Options of the Fund during the NFO period, the minimum amount is Rs. 10000 and in multiples of Re. 0.01 thereof.

On going purchases directly from the Mutual Fund would be restricted to Authorized Participants provided the value of units to be purchased is in creation unit size. Authorised Participants may buy the units on any business day of the scheme directly from the Mutual Fund by paying applicable transaction handling charges and cash component in cash and by depositing basket of securities comprising BSE SENSEX. Units may be allotted only realization of cheque where the full consideration for creation unit is paid by cheque and at the value at which the underlying stocks for the creation unit is purchased against that purchase request.

The units would be listed on BSE to provide liquidity through secondary market. All categories of Investors may purchase the units through secondary market on any trading day. The AMC will appoint Authorised Participant(s) to provide liquidity in secondary market on an ongoing basis. The Authorised Participant(s) would offer daily two-way quote in the market. Each unit of the Kotak Sensex ETF will be approximately equal to 1/100th of the value of BSE SENSEX

• Entry Load during NFO: For investments < Rs 1crore - 1%
• For investments = > Rs 1 Crore - Nil
• No entry load shall be charged on ‘all direct' applications received by AMC i.e., on application forms that are not routed through any distributor / agent / broker and submitted to AMC office or collection centre / investment service centre.
• Entry Load during continuous offer:   Nil
• Exit Load - Nil
• Fund Managers: Mr. Sajit Pisharodi, Equity Fund Manager, Kotak Mahindra AMC

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