Mutual Fund News : Kotak Mahindra Mutual Fund launches Kotak Pioneer Fund

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Kotak Mahindra Mutual Fund has launched an open ended equity scheme known as Kotak Pioneer Fund, with an aims to invest in pioneering innovations theme.

The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity, equity related instruments and units of global mutual funds which invests into such companies that utilize new forms of production, technology, distribution or processes which are likely to challenge existing markets or value networks, or displace established market leaders, or bring in novel products and/or business models. However, there can be no assurance that the investment objective of the scheme will be realized.

The NFO opens for subscription on October 09, 2019 and closes on October 23, 2019.

The scheme’s performance will be benchmarked against  IISL KOTAK INDIA PIONEERING INNOVATIONS INDEX (85%) + MSCI ACWI INFORMATION TECHNOLOGY INDEX TRI (15%).

The fund will be managed by Mr. Harish Krishnan and Mr. Arjun Khanna.

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 Re 1 thereafter.

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