Kotak Mahindra Mutual Fund files offer document for Nifty Chemicals ETF
Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Kotak Nifty Chemicals ETF’. The New Fund Offer price is Rs 10. Entry load and Exit load will be nil. The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.
The performance of the scheme will be benchmarked by Nifty Chemicals Index Total Return Index (TRI). The minimum application amount is Rs 5000 and any amount thereafter.
The investment objective of the scheme is to replicate the composition of the Nifty Chemicals Index and to generate returns that are commensurate with the performance of the Nifty Chemicals Index.
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