Kotak Global Emerging Market Fund – Closed Ended, Kotak MF, Emerging Market Fund, EMF.

Kotak Mahindra MF launches Global Emerging Market Fund

Kotak Mahindra Mutual Fund (MF) has launched Kotak Global Emerging Market Fund, a three year close-ended equity scheme that aims at investing in emerging economies across the globe. The scheme opens for subscription on Jul. 25, 2007 and closes on Aug. 24, 2007. Units of the scheme will be available at Rs 10 per unit.

The scheme aims at providing long-term capital appreciation by investing in overseas mutual fund scheme that invests in a diversified portfolio of securities.

What is Inside?
The scheme offers growth option and dividend option. The dividend option will have payout and re-investment facility.

The minimum application amount is Rs 5,000 and Rs 1.00 thereafter.

As it is a close-ended scheme there is no entry load. Further the scheme does not levy any exit load .

Asset Allocation
The scheme aims at investing 90 – 100% in the units of T. Rowe Price Global Emerging Markets Equity Fund – SICAV (TGEMF) and 0 – 10% in money market instruments and debt funds.

Investment Strategy
The scheme will invest in overseas mutual funds and collective investment scheme(s) investing in various instruments in the 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.

Performance and Management
The performance of the scheme will be measured against MSCI Emerging Market Index and the fund manager is Nishat Doshi, who will manage overseas investment, and Ritesh Jain will be the fund manager for debt instruments.

From the Fund house:
On launching Global Emerging Market Fund, 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. Such global funds seek to gain from the benefits offered through global diversification and also by investing in a 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.

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