Kotak Mahindra AMC today announced the launch of Kotak Global Emerging Market Fund, a 3 year close-ended equity scheme investing in emerging economies across the globe.
The investment objective of the scheme is to provide long-term capital appreciation by investing in an overseas mutual fund scheme that invests in a diversified portfolio of securities as prescribed by SEBI from time to time in global emerging markets.
Kotak Mutual Fund has identified Luxembourg domiciled T. Rowe Price Global Emerging Markets Equity Fund - SICAV (TGEMF) as the portfolio for the purpose. The Global Emerging Markets Equity Fund invests in equity and equity related securities of companies established in or conducting a significant proportion of their business activities in the economically emerging countries of Latin America, Asia, Europe, Africa and the Middle East.
This scheme is suitable for long-term investors with a higher risk appetite and who wish to supplement existing holdings with exposure to investment opportunities in globally emerging economies.
Speaking on the occasion, Mr. Sandesh Kirkire, Chief Executive Officer, Kotak Mahindra AMC said, "Kotak Global Emerging Market Fund provides the investor a smarter way to invest in emerging markets around the world. The centers of economic excellence are shifting to emerging markets like India, China, Russia, Taiwan, Mexico and Brazil. This launch serves as a milestone in exhibiting our commitment in expanding the market with products that add value to investors' portfolios. Such global funds seek to gain from the benefits offered through global diversification vis-à-vis investing in a single market, both in terms of opportunities for profit and diversification of risk. Also, emerging economies are able to deliver comparable and sometimes even better returns than India."
Other details of the scheme:
- Benchmark Index: MSCI Emerging Market Index
- Minimum Investment Size: Rs.5000 and in multiples of Re. 1
- Exit Load (During Liquidity Window): NIL
- Liquidity Window: Liquidity will be available during a Liquidity Window, which will allow Redemptions during the last Business day of every month from the date of allotment of units, at prices related to Applicable NAV
- Unamortised expenses: As per SEBI circular dated April 4, 2006, balance proportionate unamortised issue expenses shall be recovered from exiting Unitholders.
- The New Fund Offer closes on August 24, 2007.
0 comments:
Post a Comment