Kotak Mahindra Mutual Fund has launched the Kotak FMP Series 217, a close ended income scheme. The NFO opens for subscription on February 15, 2018 and closes on February 20, 2018. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 20,00,00,000.
The scheme's performance will be benchmarked against CRISIL Composite Bond Fund Index and its fund manager is Deepak Agrawal.
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.