Kotak Mahindra Mutual Fund has launched a new Open Ended Growth scheme named "Kotak Nifty Midcap 150 Momentum 50 Index Fund" with maturity period of 0 days from the launch date.

The New Fund Offer (NFO) price for the scheme is Rs 10.00 per unit, which will open for subscription from Sep 19 to Oct 03, 2024.

According to the offer document filed with SEBI, the entry and exit load is Nil.

The minimum application amount is Rs 100.00 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth, IDCW, IDCW-Reinvestment.

The fund manager of the scheme will be Devender Singhal, while the performance of the scheme will be benchmarked against Nifty Midcap150 Momentum 50 Total Return.

The investment objective of the scheme is to provide returns that, before expenses, corresponding to the total returns of the securities as represented by the underlying index, subject to tracking errors. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.