Kotak Mutual Fund has effected changes in the two of its bond funds-: K Bond and K Liquid. The changes will come in effect from July 2, 2001.
Investments up to Rs 5 lakh in K Bond-Deposit Plan, an open-ended debt fund, will attract an exit load of 0.50%, in case the same is redeemed within 3 months. Investments above this limit will not attract any exit load.
The AMC has reduced the minimum investment and the minimum account balance in the
K-Liquid an open-end short term Cash Fund, from Rs 5 lakh to Rs 1 lakh and in multiples of Rs 1000 thereof. Also, all the applications bearing an investment amount of Rs 1 crore or above, if received before 10.30 A.M on a business day will be processed on the previous day's NAV. However the applications accepted on a day, succeeding a holiday will be processed on the basis of the NAV at the close of the holiday. Currently all purchase requests received before the cut-off time of 4 P.M are processed on the next day's NAV.