Kotak Mahindra Mutual Fund files offer document for Nifty 50 Index Fund
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Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open ended scheme named ‘Kotak Nifty 50 Index Fund’. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be nil. The Scheme offers both growth and dividend Options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by Nifty 50 Index TRI. The minimum application amount for initial purchase is Rs 100 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to replicate the composition of the Nifty 50 and to generate returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking errors.
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