MUTUAL FUNDS
Kotak Mahindra MF introduces Banking & Financial Services Fund
Feb-06-2023

Kotak Mahindra Mutual Fund (MF) has launched Kotak Banking & Financial Services Fund, an open-ended equity scheme investing in the Banking and Financial Services sectors. The NFO opens for subscription on February 06, 2023 and closes on February 20, 2023. The Entry load is not applicable for the scheme. The Exit load is nil, for redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment, if units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1% and if units are redeemed or switched out on or after 1 year from the date of allotment: nil. Units issued on reinvestment of IDCW shall not be subject to entry and exit load. The minimum subscription amount is Rs 5,000 and in multiples of Rs. 1 for purchase and Re 0.01 for switches.

The performance of the scheme will be benchmarked against Nifty Financial Services Total Return Index and its fund managers are Shibani Sircar Kurian, Abhishek Bisen and Arjun Khanna.

The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services sector.

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