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Our Bureau

Mumbai , Sept. 13

KOTAK Mahindra Mutual Fund has launched Kotak Cash Plus, an open-ended income scheme. The new fund offer remains open till September 21, according to a press release from the asset management company.

Kotak Cash Plus will invest on the premise that inequalities between the spot market and the futures market often create investment opportunities, the release said.

The style of investing will give opportunities to gain additional returns when compared to a liquid scheme. The duration of investment can be as short as a month, the release added.

The scheme can invest 50-100 per cent in debt and money market instruments and up to 10 per cent in debt instruments. It can also invest up to 50 per cent in equity combined in sale in the futures market and up to 25 per cent in securitised debt.

Kotak Mutual Fund believes the market has matured for market neutral investment strategies, seen from the large rise in the derivatives market. Kotak Cash Plus is one such effort to offer investors an access to market neutral strategies, Mr Sandesh Kirkire, CEO, Kotak Mutual, was quoted in the release.

The minimum investment in the fund is Rs 5,000 and the fund will charge an exit load of 0.5 per cent for redemption within 30 days of allotment.

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