Widely read:
Kotak Mutual Fund has announced conversion of Kotak Indo World Infrastructure Fund, a 3 year close-ended equity scheme into an open-ended equity scheme, with effect from January 27, 2011.
Investors who wish to continue can do so without doing anything. However, investors who want to exit can redeem their units or they can switch to other open-ended schemes of Kotak Mutual Fund from December 25, 2010 to January 25, 2011, no exit load will be charged.
New investment in the scheme will be subject to an exit load of 1 per cent if redeemed within 1 year from the date of allotment. There are no changes to any other fundamental features of the scheme on being converted into open ended scheme.
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