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Kotak MF Launches Close-End Fund of Funds

Kotak Mutual Fund has launched a close-end fund of funds. Named as Kotak Dynamic Fund of Funds, the scheme aims to generate long-term capital appreciation by investing in up to 100 per cent of its corpus in diversified large-cap equity schemes and liquid schemes of mutual funds. The fund could also invest up to 10 per cent in money market securities.

The maturity date of the scheme is three years from the date of allotment. The fund has provision for a Liquidity Window, which will allow redemptions during the last three working days of every third month from the date of allotment of units, at prices related to applicable NAV.

The minimum investment in the fund should be Rs 5,000. The fund charges an entry load of 2.25 per cent during the initial offer.