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Kotak Mahindra Mutual Fund (MF) has launched the Kotak Global Innovation Fund of Fund, an open-ended fund of fund investing in units of Wellington Global Innovation Fund or any other similar overseas mutual fund schemes/ETF. The NFO opens for subscription on July 08, 2021, and closes on July 22, 2021. The Entry load is nil for the scheme. The Exit Load will be 1%, for redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment and nil, for redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment. Any exit load charged (net off Goods and Services tax, if any) shall be credited back to the Scheme. The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 for purchase and Re 0.01 for switches.

The performance of the scheme shall be benchmarked against MSCI All Country World Index TRI and its fund manager is Arjun Khanna.

The investment objective of the Scheme is to provide long-term capital appreciation by investing in units of Wellington Global Innovation Fund or any other similar overseas mutual fund schemes/ETFs.