MUTUAL FUNDS
Kotak Mahindra Mutual Fund files offer document for IT EFT
Oct-23-2020
Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open ended fund scheme named ‘Kotak IT ETF’. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be Nil. The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme will be benchmarked by NIFTY IT Index TRI. The minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to replicate the composition of the NIFTY  IT  Index  and to generate  returns  that  are  commensurate  with  the performance of the NIFTY IT Index, subject to tracking errors.

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