Kotak Mahindra Mutual Fund will launch its first fund of funds scheme called Kotak Equity Fund of Funds (FoF) on July 01, 2004. The initial public offer for the fund would open from July 1 to July 19, 2004.
The fund will invest in a basket of top ranking diversified equity funds across the industry and the portfolio of the fund would comprise both large-caps and aggressive diversified equity schemes across all mutual fund houses in India. There will be a cap of 25 per cent on an investment made in a single scheme.
The fund will charge an entry load of 2.25 per cent.