Kotak Mutual Fund has filed offer document with SEBI to launch a Close Ended Capital Protection Oriented Scheme named as 'Kotak Capital Protection Oriented Scheme Series 5 - 6'. The New Fund Offer price is Rs 10 per unit. Entry load and exit load will be Nil for the scheme. The scheme offers growth and dividend payout options and seeks to collect a Minimum Target Amount of Rs 20 crore.
The scheme’s performance will be benchmarked by CRISIL Short Term Bond Fund Index (88%) and CNX Nifty (12%) for scheme duration between 24 months to 36 months and for scheme duration more than 36 months upto 66 months will be benchmarked by CRISIL Composite Bond Fund Index (80%) and CNX Nifty (20%). The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter.
The investment objective of the Scheme is to seek capital protection by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities.