NFO Update: Kotak Mutual Fund launches CRISIL-IBX Financial Services 3-6 Months Debt Index Fund
Kotak Mutual Fund has launched Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund, an open-ended constant maturity index fund tracking the CRISIL-IBX Financial Services 3- 6 months debt index with a relatively low interest rate risk and relatively low credit risk.
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The new fund offer or NFO is open for subscription and will close on March 5, providing investors with an opportunity to invest in a structured, short-term fixed-income solution.
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The objective is to generate returns similar to the CRISIL-IBX Financial Services 3 — 6 months debt index. This index tracks the performance of Commercial Papers (CPs), Certificates of Deposit (CDs), and corporate bonds that mature within three to six months.
“The Kotak CRISIL-IBX Financial Services 3-6 Months Debt Index Fund aligns closely with the underlying index, maintaining portfolio aggregates in sync with the benchmark. In line with the constant maturity profile of the underlying index, the scheme follows a perpetual structure, wherein it would be rebalanced as per the set frequency and remain in line with the maturity profile,” said Abhishek Bisen, Head of Fixed Income at Kotak Mutual Fund.
