Kotak Mahindra Mutual Fund is introducing a Bonus Option under the K Bond -Wholesale Plan. The record date for the payment of bonus is December 20, 2002. The existing investors of K Bond Wholesale - Growth Option can transfer their investments from Growth Option to Bonus Option at the applicable NAV from December 20, 2002 to December 23, 2002. It would be open for subscription for all investors from December 24, 2002 onwards. Entry into the fund is without any load but an exit load of 0.25 per cent would be charged if redeemed within sixty days.
In K Bond Deposit Plan, the minimum purchase and balance amount has been raised from Rs 5000 to Rs 20,000. The exit load has also undergone a change, earlier the fund charged no exit load while now it would charge an exit load of 1 per cent if redeemed within 12 months. The above changes would come into effect from December 23, 2002.
Under K Liquid the minimum purchase and balance amount has got reduced from Rs 1 lakh to Rs 5000, effective January 1, 2003.
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