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Kotak Mutual Fund Changes Load Structure


Kotak Mutual Fund has brought the following changes in respect of the following schemes. The changes will come into effect from July 21, 2005.

For investments made through SIP/STP in any of the funds, namely, Kotak 30, Kotak Balance, Kotak Tech, Kotak Global India, Kotak Midcap, Kotak Opportunities, Kotak Contra and Kotak MNC, following will be the revised load structure: Entry Load: For investments up to Rs 25 lakh per instalment by investors other than FII/sub-account of FII, an entry load of 2 per cent will be levied, while for investments of more than Rs 25 lakh but below Rs 3 crore per instalment by investors other than FII/sub-account of FII, the entry load will be 2.25 per cent. For investments made by FIIs/sub-account of FIIs, the entry load will be nil. Exit Load: For investments up to Rs 25 lakh per instalment by investors other than FII/sub account of FII, an exit load of 1 per cent will be charged upon redemption within 18 months from the date of allotment.

For Kotak Equity FoF, where investments are made through SIP/STP (investors other than FII/sub-account of FII) up to Rs 25 lakh per instalment, an entry load of 2 per cent will be charged. For SIP/STP (from investors other than FII/sub-account of FII) of more than Rs 25 lakh per instalment, the entry load will be 2.25 per cent. The investments made through the SIP/STP route (investors other than FII/sub-account of FII) will attract an exit load of 1 per cent for exit before 18 months.

For Kotak Opportunities/Kotak Contra, for non-SIP/non-STP investments of less than Rs 3 crore, an exit load of 1 per cent will be levied upon redemption within six months of investment.

For investments in any of the funds, namely, Kotak Floater Long Term, Kotak Flexi Debt, Kotak Bond (Regular), Kotak Bond (Deposit) and Kotak Income Plus, the entry load will be nil, while an exit load of 0.50 per cent will be charged for investments up to Rs 10 lakh, if redeemed within six months. For investments above Rs 10 lakh, no exit load will be charged.

The minimum amount of investment per instalment in SIP/STP has been increased from Rs 500 to Rs 1,000, while the minimum number of instalments has been increased from five to six. The dates for SIP/STP/SWP would be 1st, 7th, 14th and 21st of every month, while the number of days between two SIP/STP/SWP instalments must be at least 28 days.

Individual investors would now be eligible to invest in Kotak Liquid Institutional Premium Plan.