|Kotak Mutual Fund has launched a new fund named as Kotak Balanced Advantage Fund (an open ended dynamic asset allocation fund). The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 July to 27 July 2018.
The investment objective of the scheme is to generate capital appreciation by investing in a dynamically balanced portfolio of equity & equity related securities and debt & money market securities.
The scheme offers growth and dividend (payout & reinvestment) option.
The scheme shall invest 65% - 100% of assets in equity & equity related securities and invest upto 45% of assets in equity derivatives with high risk profile and invest upto 35% of asset in debt securities & money market instruments with low to medium risk profile and invest upto 10% of asset in units of REITs & INVITs with Medium to high risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 1 for purchase.
The minimum additional purchase amount is Rs 1000 and in multiples of Rs 1 for purchase.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.
Entry load: NIL
Exit load: 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: Nil.
If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%.
If units are redeemed or switched out on or after 1 year from the date of allotment: Nil.
The scheme performance will be benchmarked against Nifty 50 Hybrid composite debt 50:50 Index which is based on 50% Nifty 50 TRI and 50% of Nifty composite debt index.
The fund managers of the scheme Deepak Gupta & Harish Krishnan will be the Fund Manager for investments in equity and equity related instruments. Abhishek Bisen will be the Fund Manager for investments in debt and money market instruments. Arjun Khanna will be the Dedicated Fund Manager for investments in foreign securities.
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