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Kotak Mahindra Mutual Fund has launched Kotak CRISIL-IBX AAA Financial Services Index-Sep 2027 Fund, an open-ended Sectoral Target Maturity Debt Index Fund investing in constituents of CRISIL-IBX AAA Financial Services Index - Sep 2027 with relatively high interest rate risk and relatively low credit risk. The NFO opens for subscription on August 30, 2024 and closes on September 11, 2024. No Entry Load shall be charged for the scheme. The exit load will be 0.25% of applicable NAV- For redemption / switch-out of units on or before 180 days from the date of allotment and Nil - For redemption / switch-out of units after 180 days from the date of allotment. The minimum subscription amount is Rs 100/- and any amount thereafter.

The performance of the scheme will be benchmarked with CRISIL-IBX AAA Financial Services Index - Sep 2027 and its fund manager is Abhishek Bisen.

The investment objective of the scheme is to generate returns that are commensurate (before fees and expenses) with the performance of CRISILIBX AAA Financial Services Index – Sep 2027 which seeks to track the performance of AAA issuers from the financial services sector maturing near target date of the index.