Kotak Mahindra Mutual Fund files offer document for Nifty Top 10 Equal Weight Index Fund
Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Kotak Nifty Top 10 Equal Weight Index Fund ‘. The New Fund Offer price for units would be Rs 10 during the NFO period. Entry load and Exit load will be nil. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.
The performance of the scheme will be benchmarked against Nifty Top 10 Equal Weight Index (Total Return Index (TRI)). The minimum application amount is Rs 100 and any amount thereafter.
The investment objective of the Scheme is to provide returns that, before expenses, corresponding to the total returns of the securities as represented by the underlying index, subject to tracking errors.
