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Kotak Mahindra Mutual Fund (MF) has launched Kotak Fixed Maturity Plan (FMP) - Series 303, a close ended debt scheme with maturity of 187 days with relatively low interest rate risk and moderate credit risk. The NFO opens for subscription on December 23, 2022 and closes on December 26, 2022. The Entry load and Exit load is not applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Rs 10 for purchase and switch-ins.

The Benchmark indices of the Scheme will be NIFTY Low Duration Debt Index and its fund manager is Deepak Agrawal.

The investment objective of the Scheme endeavors to provide regular income and capital growth with limited interest rate risk to the investors through investments in a portfolio comprising of debt instruments maturing on or before the maturity of the Scheme.