Kotak Mutual Fund has launched a new fixed term fund named as Kotak FMP Series 72, a close ended debt scheme with the duration of 370 days from the date of allotment of units.
The NFO opens and closes for subscription on 24 January 2012. The scheme offers growth and dividend payout option.
The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
The scheme will allocate 60% to 100% of assets in debt & money market instruments with low to medium risk profile. On the other side it would allocate upto 40% of assets in government securities with low risk profile.
The scheme 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.
