Kotak MF declares dividend under Kotak Fixed Maturity Plan -19M Series 1

Kotak Mutual Fund has floated Kotak Fixed Maturity Plan -19M Series 1, a close-ended debt scheme.

The new fund offer (NFO) has begun on September 29, 2008 and is scheduled to close on October 13, 2008. The scheme has duration of 19 months from the date of allotment.

The scheme offers retail and institutional plan with growth and dividend options. Dividend payout and dividend reinvestment facilities will be available under dividend option under both plans.

The objective of the scheme is to generate regular returns through investments in debt and money market instruments with a view to significantly reduce the interest rate risk.