Kotak Mahindra Asset Management Company has launched a new fund offer or NFO called kotak multi asset allocation fund. The investment objective of this new scheme is to generate income by investing around 70 to 80 percent in debt and money market securities, and reaming in equity markets and in order to provide diversification to investors this fund will also make investments in Gold ETFs.
The new fund offer (NFO) will be open for subscription from 31 December 2010 to 14 January 2011. The price per unit for this New Fund Offer is Rs 10 per unit. The minimum subscription amount is Rs. 10,000 for this NFO. The investors can purchase these units under 4 schemes
1. Kotak Multi Asset Allocation Fund – Growth Plan
2 Kotak Multi Asset Allocation Fund – Annual Dividend Plan
3. Kotak Multi Asset Allocation Fund – Quarterly Dividend Plan
4. Kotak Multi Asset Allocation Fund – Monthly Dividend Plan
The Entry load for investing in Kotak Multi Asset Allocation Fund is nil and exit load is 1 percent if it is redeemed before 1 year of its allotment, and if it is redeemed after 1 year exit load is nil.