Kotak FMP Series 246 Mutual Fund Investment Scheme NFO (New Fund Offer) period which was initially extended to September 21, 2018, has been further extended up to September 24, 2018. The NFO has opened for subscription from September 18, 2018.
The investment objective of the Kotak FMP Series 246 scheme is to generate returns by investing in debt instruments and money market securities with a target to decrease the interest rate risk.
The closed-end debt FMP scheme which is benchmarked against the CRISIL Composite Bond Index and has the face value of 10.00 Rupees per unit. The minimum initial investment amount for the Kotak FMP Series 246 scheme is 5000 Rupees.
The Kotak FMP Series 246 scheme comes with a maturity period of 1153 days and offers both Regular Plan and Direct Plans. Both the plans offer Growth and Dividend options.
The Kotak FMP Series 246 Mutual Fund Investment scheme NFO which is open for subscription from September 18, 2018, to September 24, 2018, will invest in debt as well as money market securities maturing on or before the maturity period of the plan. The scheme does not offer any assurance or guarantee for the accomplishment of the investment objective.
The closed-end debt FMP scheme will invest about 80 percent to 100 percent of assets in debt instruments, and about 20 percent of assets in other instruments excluding the equity securities.
The fund house has appointed Sushma Mata as the Investor Relations Officer, Nilesh Shah as the CEO (Chief Executive Officer), and Deepak Agrawal as the fund manager of the Kotak FMP Series 246 scheme, according to the Economic Times.
Mr. Agrawal has been associated with the Kotak Mahindra Mutual Fund since 2000. He has done CA (Chartered Accountant), Post Graduate degree in Commerce, Company Secretary course and CFA.
Kotak Mahindra AMC announced on September 20, 2018, about the second extension of the closing date of the Kotak FMP Series 246 Mutual Fund Investment Scheme NFO, according to KJMC.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]