Kotak Mutual Fund has revised load structure under its scheme Kotak Floater Short Term Fund. As per the revision, scheme will charge an exit load of 1 per cent if the investments are redeemed within 60 days from the date of allotment. Currently scheme does not charge any exit load. The revision is effective from 14th June, 2010. Kotak Floater Short Term Fund is an open ended debt scheme with investment objective to reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities, money market instruments and using appropriate derivatives. The scheme is managed by Mr. Deepak Agrawal and Mr. Abhishek Bisen and benchmarked against Crisil Liquid Fund Index.
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