Kotak FMP Series Offers Regular Incomes, Should You Invest?
Kotak Mahindra Mutual Fund has launched a Fixed Maturity Plan. The scheme is a closed-ended debt scheme with a maturity of 1188 days. The name of the scheme is Kotak FMP series 287. It is opened for subscription on 16th February 2021. Moreover, the scheme will close on 22nd February 2021. Units at Rs. 10 each during the New Fund Offer.
Further, Kotak MF’s new FMP is suitable for investors who are seeking income over a long-term investment horizon. The duration of the scheme will 1188 days after the date of allotment of units.
It is available in the regular and direct plan.
Basic Details of FMP:
|FMP Name||Kotak FMP Series 287 – 1188 days|
|Subscription Period||Feb 16th, 2021 – Feb 22nd, 2021|
|Type||Closed-ended debt scheme|
|Benchmark||CRISIL Composite Bond Fund Index|
|Fund House||Kotak Mahindra Mutual Fund|
|Fund Manager||Deepak Agrawal|
The Objective of the Scheme:
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to reducing the interest rate risk. As of the source, the scheme will invest in debt and money market securities, maturing on or before the maturity of the scheme.
The minimum investment amount for the application of the scheme stood at Rs. 5,000 and in multiples of Rs. 10 per each purchase and switch-ins.
According to the reports, the fund aims to collect a minimum subscription of Rs. 20,00,00,000 of the scheme.
|Investments||Indicative allocation (% to net assets)||Risk Profile|
|Debt instruments including government securities||80%||100%||Low to Medium|
|Money Market instruments||0%||20%||Low to Medium|
Disclaimer: Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Before investment, refer to the SID and statement of additional information available free of cost at any of the Investor Service Centres or distributors.