homepersonal finance News

Kotak MF: The first fund house to file offer document for International REIT Fund

Kotak MF: The first fund house to file offer document for International REIT Fund

Kotak MF: The first fund house to file offer document for International REIT Fund
Profile image

By Moneycontrol News Feb 19, 2019 2:42:47 PM IST (Updated)

The open-ended fund of fund scheme will invest 95 percent of assets in units of SMAM ASIA REIT Sub Trust fund and /or other similar overseas funds, while the balance will be allocated to debt, money market instruments, or units of liquid schemes, the offer document stated.

Kotak Mutual Fund has sought the Securities and Exchange Board of India’s approval to launch Kotak International REIT Fund, according to a draft offer document on the SEBI website.

Recommended Articles

View All

If it gets SEBI approval, this will be the first REIT fund to be available to Indian investors.
The open-ended fund of fund scheme will invest 95 percent of assets in units of SMAM ASIA REIT Sub Trust fund and /or other similar overseas funds, while the balance will be allocated to debt, money market instruments, or units of liquid schemes, the offer document stated.
The underlying fund is an open-ended series trust of SMAM Global Investment Trust, based in the Cayman Islands.
The scheme will be benchmarked against FTSE EPRA Nareit Asia Pacific Index, which is designed to track the performance of listed real estate companies and REITS in both developed and emerging markets. The index value would be converted into Indian rupees, using RBI reference rate, the document said.
Other features:
  • Plans: Direct and regular
  • Options: Growth and dividend
  • Minimum application: Rs 5,000 and in multiples one rupee thereafter
  • Exit load: 1 percent if redeemed within one year from the date of allotment of units.
  • --Nil if redeemed after one year from the date of allotment.
    Disclaimer: The views and investment tips expressed by investment experts are their own and not that of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

    Top Budget Opinions

      Most Read

      Market Movers

      View All
      Top GainersTop Losers
      CurrencyCommodities
      CompanyPriceChng%Chng