Kotak Mahindra Asset Management Launches 13 months FMP

2144 reads

Kotak Mutual Fund has launched a 13 months Fixed Maturity Plan (FMP). Kotak FMP 13M Series 3, a close-ended debt fund, opened on March 12, 2008 and will close on March 17, 2008. The Scheme : Kotak FMP 13M Series 3, a close-ended Debt Scheme. The objective is - To generate returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk. Investment in -  Debt / Money Market Instruments and Government Securities, normally maturing in line with the maturity profile of the Scheme. NFO period is March 12, 2008 till March 17, 2008 . Minimum Investment: Retail Plan: Rs 5000/- (Rs. Five Thousand only); Institutional Plan: Rs. 5000000 (Rs. Fifty Lakhs only). Maturity: 13 months after the date of allotment (If such date falls on a non-Business Day, the scheme would mature on the next Business Day).

Load: 1.5% - if redeemed within one year from the date of allotment. Nil - if redeemed after 1 year from the date of allotment However, where an investor wants to switch his investments into any other scheme/plan of Kotak Mutual Fund on the maturity date, or from one option to other option under the same scheme during the tenure of the Scheme, no exit load will be charged. The Exit Load will not be charged on redemption of Units by the Fund on the Maturity Date. Minimum Amount of Redemption: Rs.1000 or 100 Units. If the holding is less than Rs. 1000 or 100 Units, the entire balance will be redeemed as and when redemption request is received from the investor. Redemption: On each Business Day at price related to applicable NAV. Fund Manager: Mr. Deepak Agrawal. Options: Growth, Dividend (Payout and Reinvestment) Options. Tax Benefit: Dividends if declared by the scheme will be tax free in the hands of the investors.