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Kotak Mahindra MF Launches Debt Fund


Kotak Mahindra Mutual Fund has launched a close-ended debt scheme. Named as Kotak Twin Advantage Series II, the three-year close-end fund would be available for initial subscription between April 17 and May 10. The fund will invest 75 to 100 per cent of its assets in debt and money market instruments, while up to 25 per cent in equity index options. It would offer limited liquidity during the liquidity window of 25th March, 25th June, 25 September and 25th December each year. While the fund won't charge any entry load, an exit load of 3.50 per cent would be applicable on redemption within one year, 2.50 per cent between one and two years, and 1.50 per cent after two years but before maturity of the initial investment.