| Kotak Mutual Fund has launched a new fund named as Kotak Capital Protection Oriented Scheme – Series 3, a close ended capital protection oriented scheme with the duration of 1148 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 12 February to 26 February 2016.
The investment objective of the scheme is to seek capital protection by investing a portion of the portfolio in highest rated debt securities & money market instruments and also to provide capital appreciation by investing the balance in equity & equity related securities.
The scheme offers growth and dividend payout option.
The scheme shall invest 59%-100% of assets in debt & money market instruments with low to medium risk profile and invest upto 41% of assets in equity & equity related securities with high risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 for purchase and switch-ins.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
The units of the scheme will be listed on BSE on allotment.
Entry load and exit load charge will be nil for the scheme.
The scheme's performance will be benchmarked against customized index - CRISIL Composite Bond Fund Index (80%) and CNX Nifty (20%) as it appropriately represents its duration and asset allocation and track its performance.
The fund managers of the schemes are Abhishek Bisen (debt portion) and Deepak Gupta (equity portion).
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