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Kotak Mutual Fund files offer document for Pioneer Fund
Jun-12-2019

Kotak Mutual Fund has filed offer document with SEBI to launch an open ended equity scheme named ‘Kotak Pioneer Fund'. The New Fund Offer price is Rs 10 per unit. Entry load will be Nil and Exit load for redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment will be 1%, If units are redeemed or switched out (including SIP/STP) on or after 1 year from the date of allotment of units, irrespective of the amount of investment will be Nil. The scheme offers dividend and growth options and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme will be benchmarked by 85% IISL KOTAK INDIA PIONEERING INNOVATIONS INDEX + 15% MSCI ACWI INFORMATION TECHNOLOGY 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 generate capital appreciation from a diversified portfolio of equity, equity related instruments and units of global mutual funds which invests into such companies that utilize new forms of production, technology, distribution or processes which are likely to challenge existing markets or value networks, or displace established market leaders, or bring in novel products and/or business models.

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