| The
Scheme |
Kotak Nifty ETF |
| Structure |
An
Open ended Exchange Traded Fund. |
| Investment
Objective |
The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the S&P CNX Nifty subject, to tracking errors. |
| Investment
In |
The scheme will invest in the stocks that comprise the S&P CNX Nifty and in the same proportion as in the index. |
| Suitable for |
Investors who :
- Believe that the market as a whole is more efficient than the individuals who are a part of it and hence, it is difficult to outperform the market.
- Believe in investing in mutual fund schemes that follow a passive investment strategy.
|
| Liquidity |
All investors including Authorised Participant(s), Large Investors and other investors may sell their units in the stock exchange(s) on which these units are listed on all the trading days of the stock exchange.
Mutual fund will repurchase units from Authorised Participant(s) and Large Investors on any business day provided the value of units offered for repurchase is not less than creation unit size. The redemption consideration shall normally be the basket of securities represented by S&P CNX Nifty in the same weightage as in the Index and cash component. |
| Fund
Manager |
Mr.
Sajit Pisharodi |
| Exchange Listed |
Bombay Stock Exchange & National Stock Exchange. |
| Pricing Per Unit |
Approximately valued at 1/10 of the S&P CNX NIFTY value. |
| Allotment Date |
February 2, 2010 |
| Minimum Investment |
During NFO :
- The minimum investment amount during the New Fund Offer is Rs.10,000 /- and in multiples of Rs.1000
- In case of investors opting to switch into the Scheme from existing Schemes/Plans/Options of the Fund during the NFO period, the minimum amount is Rs. 10,000/- and in multiples of Re. 0.01 thereof.
Ongoing Basis :
- On going purchases directly from the Mutual Fund would be restricted to Authorized Participants provided the value of units to be purchased is in creation unit size. Authorised Participants may buy the units on any business day of the scheme directly from the Mutual Fund at applicable NAV, and transaction charges by depositing basket of securities comprising S&P CNX Nifty
- The units would be initially listed on NSE to provide liquidity through secondary market. It may also list on any other exchanges subsequently. All categories of Investors may purchase the units through secondary market on any trading day.
- The AMC will appoint Authorised Participant(s) to provide liquidity in secondary market on an ongoing basis. The Authorised Participant(s) would offer daily two-way quote in the market.
|
| Creation unit size |
Creation Unit is fixed number of units of the Scheme, which is exchanged for a basket of securities underlying the index called the Portfolio Deposit and a Cash Component equal to the value of 5,000 units of the Scheme.
For redemption of units it is vice versa i.e. fixed number of units of Scheme are exchanged for Portfolio Deposit and Cash Component. The Portfolio Deposit and Cash Component will change from time to time. The creation unit size may be changed by the AMC at their discretion and the notice of the same shall be published on AMC’s internet site. |
| Benchmark |
S&P CNX Nifty index. |
| Loads |
Entry Load : Nil
n terms of SEBI Circular No. SEBI/IMD/CIR No. 4/168230/09 dated June 30, 2009, no entry load will be charged on purchase / additional purchase / switch-in. The upfront commission, if any, on investment made by the investor shall be paid by the investor directly to the Distributor, based on his assessment of various factors including the service rendered by the Distributor.
Exit Load : Nil
|
| Cost of trading |
Investor will have to bear the cost of brokerage and other applicable statutory levies eg, Securities Transaction Tax, etc when the units are bought or sold on the stock exchange. |
| Exchange Symbol |
KOTAKNIFTY |
| Bloomberg Code |
KONIFTY IN |
| Reuters Code |
KOTK.NS |
