Kotak Mutual Fund launches its maiden emerging market fund which will primarily invest in companies, either established or conducting a significant proportion of their business in the emerging markets.
Name of Fund: Kotak Global Emerging Market Fund
Scheme: Close End, Equity Scheme
Objective: The scheme aims to invest a greater proportion of assets in emerging markets funds. The fund may pursue a diversified style to provide capital appreciation for its investors.
Asset Allocation: The fund would invest 90 to 100 % in units of global emerging markets equity fund and 0 to 10 % in debt and money market securities.
Fund Opens: July 25, 2007
Fund Closes: August 24, 2007
Maturity Date: August 24, 2010
Face Value: Rs. 10
Investment Options: Growth, Dividend Reinvestment and Dividend Payout
Minimum Investment Amount: Rs 5, 000
Benchmark Index: MSCI Emerging Market Index
Fund Manager: Nishant Kumar and Ritesh Jain
Presently there are two funds available in the market under the similar investment style - Sundaram BNP Paribas Global Advantage and Principal Global Opportunities. Sundaram BNP Paribas recently come out with this fund but Principal Global Opportunities exists since March 2004.
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