Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open-ended fund of fund scheme named ‘Kotak MNC ETF Fund of Fund’. The New Fund Offer price Rs 10. Entry load will be nil and Exit load For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment will be Nil; If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment will be 1%; If units are redeemed or switched out on or after 1 year from the date of allotment will be NIL The scheme offers growth option for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by NIFTY MNCTotal Return Index(TRI).The minimum application amount will be Minimum of Rs 5000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to provide long-term capital appreciation by investing in units of Kotak MNC ETF.