Kotak FMP Series 289 – 1179 Days
Kotak Mutual Fund has planned to launch a fixed maturity plan in March 2021. The scheme called Kotak FMP Series 289. The tenure of the scheme will 1179 days from the date of allotment of units. Kotak’s 289 series FMP scheme is a close-ended debt scheme.
It is available in regular and direct plans along with growth and dividend options. The product is suitable for investors who looking for income over a long-term investment horizon.
However, the investors should consider that their principal will be at low to medium risk.
Basis Details of Kotak Fixed Maturity Plan:
|FMP Name||Kotak FMP Series 289|
|Subscription Period||March 8th, 2021 – March 9th, 2021|
|Type||Closed-Ended Debt Scheme|
|Benchmark||CRISIL Composite Bond Fund Index|
|Fund House||Kotak Mahindra Mutual Fund|
The object of the Issue:
The main object of the investment is to generate returns through investments in debt and money market instruments with a view to reducing interest rate risk. It will invest in debt and money market securities, maturing on or before the maturity of the scheme.
As per the source, the minimum amount for application in the FMP of scheme stood at Rs. 5,000 and in multiples of Rs. 10 for purchase and switch-in.
Further, the scheme looks to collect a minimum subscription amount of Rs. 20,00,00,000/- of the scheme.
Besides, the Systematic Investment Plan, Systematic Transfer Plan, Systematic Withdrawal Plan are not available under 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 centers or distributors.