Kotak Mahindra Mutual Fund has launched the New Fund Offer (NFO) of Kotak FMP Series 98 (465 Days), a close ended income scheme. The NFO opens for subscription on December 20, 2012 and closes on December 26, 2012. No entry/exit load will be applicable for the scheme. The minimum subscription amount is Rs. 5000.
The scheme's performance will be benchmarked against CRISIL Short Term Bond Index and its fund managers are Mayank Prakash and Abhishek Bisen.
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.