Saturday, July 31, 2010 09:41 Hrs IST

Kotak MF to Revise Exit Load Structure for Floater Short Term Scheme

With effect from 3 August 2010

Kotak Mutual Fund has announced the revision of exit load structure for Kotak Floater Short Term, an open ended debt scheme. The changes will be effective from 3 August 2010.

Accordingly, the revised exit load charge will be nil.

Under the existing provision, the exit load charge is 1% for redemptions / switch outs on or before 60 days from the date of allotment of units. For redemptions / switch outs after 60 days from the date of allotment of units the exit load charge is nil.

Kotak Floater Short Term scheme has the investment objective to reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities, money market instruments and using appropriate derivatives.