Kotak MF's hybrid scheme opens tomorrow
Agencies: Mumbai, Dec 29 2011, 17:01 IST
Kotak Mutual Fund today said it will launch a new fund offer (NFO) tomorrow, which aims to generate income by investing in debt and money market instruments and also generate capital appreciation by investing in equity.
The minimum investment in Kotak Hybrid Fixed Term Plan- Series I would be Rs 10,000 and the fund would close on January 12. The close-ended scheme has a maturity of 24 months.
"Hybrid schemes offer low risks as the income earned from debt instruments helps to alleviate the risk associated with equity and equity related instruments. Investors who aim to seek returns, which are potentially higher than traditional deposit instruments and is tax efficient, should allocate some of their funds to such hybrid schemes," Kotak MF Chief Executive Officer Sandesh Kirkire said.
At the end of September quarter, Kotak Mutual Fund managed assets worth Rs 32,100.78 crore.
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