Kotak FMP Series 246 Mutual Fund Investment scheme’s NFO (New Fund Offer) period has been extended till September 21, 2018, the fund house announced the news. The NFO will open for subscription from September 18, 2018.
The closed-end debt FMP scheme seeks to produce returns through investments in debt securities and money market securities with an aim to reduce the interest rate risk.
The Kotak FMP Series 246 scheme which is to launch on September 18, 2018, is benchmarked against CRISIL Composite Bond Index.
The closed-end debt FMP scheme offers both Regular and Direct Plans with Growth and Dividend options. The maturity period of the scheme is 1153 days.
The face value of the Kotak FMP Series 246 Mutual Fund Investment scheme is 10.00 Rupees per unit. The minimum initial investment amount for the scheme is 5000 Rupees.
The Kotak FMP Series 246 scheme will invest in debt instruments and money market instruments maturing on or before the maturity date of the scheme. There is no assurance or guarantee that the investment aim of the scheme will be achieved.
The FMP scheme will invest 80 percent to 100 percent of its assets in debt securities. The scheme will further invest 20 percent of its assets in other securities except for equity instruments.
Nilesh Shah is the CEO of the closed-end debt Fixed Maturity Plan, and Sushma Mata is the Investor Relations Officer of the scheme.
Deepak Agrawal is the fund manager of the scheme since its launch. He has been working with Kotak Mutual Fund house since 2000. He is a CA (Chartered Accountant), Company Secretary and CFA. He has also completed a Post Graduate degree in Commerce from Mumbai University, reported The Economic Times.
Kotak Mahindra Mutual Fund announced the extension of the closing date of the NFO (New Fund Offer) period of the Kotak FMP Series 246 Mutual Fund Investment scheme on September 15, 2018, according to KJMC.
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