Financial Daily from THE HINDU group of publications
Wednesday, Dec 29, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 29, 2004 |
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Markets
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Mutual Funds Kotak Mahindra MF to launch fund of funds Our Bureau
Mumbai , Dec. 28 KOTAK Mahindra Mutual Fund is launching Kotak Dynamic fund of funds, a close-ended scheme. The scheme would invest up to 100 per cent in diversified large-cap equity plans, up to 60 per cent in diversified aggressive equity schemes. It can also keep its entire corpus in money market securities or liquid schemes, according to the offer document. It is suitable for investors who seek capital appreciation by investing in diversified equity schemes, while substantially taking lower risk on capital over a three-year period, the document said. The draft offer document of the scheme has been filed with the Securities and Exchange Board of India. The scheme charges an entry load of four per cent for all investments less than Rs 25 lakh and three per cent for investments above this amount. There is no exit load on the scheme. The minimum application amount for the scheme is Rs 5,000 and is available only in the growth option.
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