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Kotak Wealth Builder Series I


The latest from Kotak Mutual Fund is a close ended debt oriented scheme with a three year maturity. The asset allocation carries an upper limit of 30 per cent for equity derivatives. The rationale behind the equity investments will be based on a value hedging strategy. It is essentially a market neutral strategy wherein there are two positions which exactly offset each other in value terms. The fund falls in the low risk bracket as it intends investing only in AAA CRISIL rated securities.
As regards the exit option during the three year period, investors can redeem their units on 25th March, 25th June, 25th September and 25th December each year. The first redemption window will be open six months after the subscription closes.
Ritesh Jain & Sajit Pisharodi are the designated fund managers. Ritesh currently manages eighteen debt funds at Kotak Mutual Fund, which includes three four star rated funds and an equal number of five star rated funds. Sajit, on the other hand, manages all the six fund of funds schemes at Kotak Mutual fund.
Snapshot
Unit cost during NFO: Rs 10
Type of fund: Hybrid Debt-oriented
Options: Growth, Dividend payout, Reinvestment
Minimum investment: Rs. 5000
Benchmark: CRISIL MIP Blended Index
Fund Manager: Sajit Pisharodi and Ritesh Jain
Offer opened: January 2, 2007
Offer closes: January 25, 2007