Kotak Mahindra Mutual Fund files offers document for Nifty Midcap 50 Index Fund
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Kotak Nifty Midcap 50 Index Fund'. The offer price will be Rs 10 per unit. Entry load and Exit load will be nil. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and minimum target subscription amount for the Scheme to be raised is Rs 5 Crore.
The performance of the scheme will be benchmarked against Nifty Midcap 50 Index (Total Return Index). 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.
