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Kotak FMP 24M Series 1 Floats On (26-Feb-2010)

Indian-Commodity  :  Mutual-Funds  :  Kotak FMP 24M Series 1 Floats On
Kotak FMP 24M Series 1 Floats On
Kotak Mutual Fund has launched a new a close ended debt scheme named as Kotak FMP 24M Series 1. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from February 25 will close on March 9, 2010.

The scheme's investment objective is to generate returns through investments in debt and money market instruments in order to significantly reduce the interest rate risk. The scheme's duration is 24 months from the allotment date. The scheme offers two options - growth and dividend payout option. The scheme will allocate 100% of assets in debt as well as money market instruments and government securities with low to medium risk profile. Meanwhile, the debt instruments shall be deemed to include securitised debts (excluding foreign securitised debt) and investment in securitised debts maybe upto 100% of the net assets of the scheme.
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