Kotak Money Market Scheme

About Kotak Money Market Scheme

The Kotak Money Market Scheme is an open-ended scheme which invests in floating rate securities, money market instruments, and appropriate derivatives in order to reduce the interest rate risk associated with investments in fixed-rate investments.

Pros & Cons of Kotak Money Market Scheme

1. The scheme positions itself uniquely to take advantage of the short-end of the yield curve and is suitable for investors who are looking to park their surplus funds for a short-term.
2. As on September 30, 2018, this scheme is ranked 3 under CRISIL’s Money Market Funds category.
3. Further, it has generated returns of 7.75% per year over the last 10 years (as on December 31, 2018).

Fund Information and Statistics of Kotak Money Market Scheme

i) Inception / Launch date

The scheme was launched on 14 July 2003 by Kotak Mahindra Mutual Fund.

ii) Risk level

The scheme is suitable for investors with a short-term investment horizon and invests in money market securities. It has a Low risk-level.

iii) Redemption

The minimum redemption amount is Rs. 1,000 or 100 units. However, if the holding is less than Rs. 1000 or 100 units, after processing the redemption request, the entire amount/units will be redeemed from the Scheme. The Mutual Fund will dispatch the redemption proceeds within 10 business days of the receipt of a valid redemption request at the official points of acceptance.

iv) Fund Manager

Mr. Deepak Agrawal (since July 11, 2007) and Mr. Arjun Khanna manages investments in foreign currencies of Kotak Global Emerging Market Fund.

v) Entry / Exit load

There is no entry load or exit load in this scheme.

Tax benefits of investing in Kotak Money Market Scheme

The following taxes are applicable to income arising from investing in this scheme: 1. If the units are held for a period of less than 36 months – STCG tax – as per the income-tax slabs of the investor. 2. If the units are held for a period of more than 36 months – 2. LTCG tax – 20% with indexation benefits.

About Kotak Mutual Fund

The fund house is managed by Kotak Mahindra Asset Management Company Limited (the “AMC”). It started operations in December 1998. The fund house offers schemes catering to investors with different risk appetite and was the first fund house in India to launch a dedicated gilt scheme. The AMC manages assets worth more than Rs 1.25 lakh crore.