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Kotak Tax Saver discontinues dividend reinvestment option

Kotak Mutual Fund has decided to discontinue dividend reinvestment option under the direct and regular plans of Kotak Tax Saver.

The fund house has changed the nomenclature of all 'Non Direct Plans' to 'Regular Plans' except Kotak Gilt Unit Scheme 98-Investment.

The fund house has also changed the STP dates from 1st, 7th, 14th, 21st and 25th to any business day for weekly, monthly and quarterly frequency.

The effective date for the above changes is February 18, 2015.