The Hindu Business Line : Kotak Mahindra unveils flexi-cap scheme

KOTAK Mahindra Mutual Fund is joining the bandwagon of flexi-cap funds with its latest offering. The Kotak Focussed Equity Fund is an open-ended equity scheme that will invest in equity and equity-related instruments across the market irrespective of capitalisation.

The fund can invest 65-100 per cent in equity and equity-related securities. Up to 35 per cent of the corpus of the fund can be in debt and money market instruments.

The offer document of the fund, now filed with the SEBI, says that the portfolio of the fund will generally not exceed 20 stocks. The fund will be benchmarked against CNX 500.

The minimum investment amount for the fund is Rs 5,000. The fund charges an exit load of 2.25 per cent for redemptions within one year and an entry load of 2.25 per cent on direct investments less than Rs 3 crore.

The scheme offers growth and dividend options.

The fund could also invest in derivative instruments such as index futures, stock futures, index options, stock options, warrants, and other derivative instruments that are permitted by SEBI, according to the offer document.

The offer document of the scheme is awaiting clearance from the SEBI.

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