
Kotak Mutual Fund has announced the introduction of the daily dividend re-investment option in K Liquid Institutional Plan with effect from June 12, 2003. This is for investments for Rs. 1 crore and above. On June 12, 2003, the unit holders in the Growth Option, can switch all or part of their investments to the Daily Dividend Option at the applicable NAV of the Growth Option, subject to fulfillment of the minimum investment requirement.
The purchase and redemption of units under the daily dividend option will be available to all eligible investors with effect from June 13, 2003 at the applicable NAV of the Daily Dividend Option. Eligible unitholders from all schemes of Kotak Mutual can switch into the Daily Dividend Option with effect from June 13, 2003.