Mutual Fund News : Kotak Mahindra Mutual Fund introduces Kotak FMP Series 286-1355 days

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Kotak Mahindra Mutual Fund has launched a close ended debt scheme – Kotak FMP Series 286-1355 days.

The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. The Scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.

It is a Fixed Maturity Plan that will mature in 1355 days from the date of allotment.

The NFO opens for subscription on August 07, 2020 and closes on August 11, 2020.

The scheme’s performance will be benchmarked against CRISIL Composite Bond Fund Index.

The fund will be managed by Mr. Deepak Agrawal.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Rs 10 thereafter during the NFO period.

The scheme offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Payout Facility).