Kotak Mutual Fund has changed the asset allocation of Kotak 30, Kotak Tech, Kotak MNC and Kotak Global India funds. Under the four funds, the allocation to equity and equity related securities has been changed from the existing 60 to 95 per cent to 65 to 100 per cent. Allocation to debt and money market securities has been changed from the existing 5 to 40 per cent to 0 to 40 per cent under the first three funds. Kotak Global India, which has the mandate to invest 5 to 35 per cent of its assets in debt and money market instruments, would now invest 0 to 35 per cent of assets in the asset class. The change would come into effect from January 19, 2005.
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