KMMF launches two more funds

MUMBAI, OCT 19: Kotak Mahindra Mutual Fund KMMF has launched two new open-ended schemes K-Bond and K-Balance. The schemes which opened from October 18 will close on November 5, 1999.

Announcing the new scheme at a press conference here today, Uday Kotak, chairman, Kotak Mahindra Asset Management said that K-Bond scheme has been divided into two plans: the deposit plan for retail investors and the wholesale plan for large investors. KMMF offers a premium to investors of K-Bond deposit plan who remain in the plan at least for one year.

The premium will be 0.25 per cent of NAV on redemption between one year and two years, 0.6 per cent between two years and three years and up to one per cent of NAV on redemption after three years. Redemption within a year would attract an exit load of one per cent.

He said K-Balance scheme is designed for investors who seek to moderate risk associated with equity investments.