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Our Bureau

Mumbai , July 28

Kotak Mahindra Mutual Fund has announced the launch of Kotak Twin Advantage Fund Series III, a close-ended debt scheme that aims to provide safety of debt and payoff of equity, an official statement said.

The new fund offer opened on July 27 (Thursday) and closes on August 25. It will invest 65-100 per cent in debt and money market instruments and 0-35 per cent in equity index options.

The investment objective of the scheme is to generate income by investing in debt and money market instruments and to generate capital appreciation by investing in equity index options.

Maturity period for the scheme is three years from the date of allotment with nil exit load.

Mr Sandesh Kirkire, CEO, Kotak Asset Management Company, said: "The fundamentals of corporate India and the macro-economy continue to be promising and valuations are below their long-term average, whereas volatility in equity markets, rising interest rates globally and high crude prices are deterrent for fresh investments in equity. Hence, we launch Kotak Twin Advantage Series III which will provide safety of debt and payoff of equity."

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Kotak MF launches close-ended debt scheme

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