Kotak Mahindra Mutual Fund announces conversion of its scheme into open ended

Kotak Mutual Fund has announced the conversion of it scheme - Kotak Indo World Infrastructure Fund, a three year close ended equity scheme into an open ended equity scheme, with effect from 27th January, 2011. There will be no changes to any other fundamental features of the scheme on being converted into open ended scheme except that scheme is converted from close ended to open ended scheme. The scheme will charge an exit load of 1 per cent if exited within 1 year from the date of allotment of units and nil if exited after 1 year from the date of allotment of units. The unitholders of the scheme who are not in agreement with the conversion may redeem their units at applicable NAV or switch to other open ended schemes of Kotak Mutual Fund without payment of exit load between 25th December, 2010 and 25th January, 2011.

Source: http://www.mutualfundsindia.com/news_viwe.asp?news_headline=Kotak+Mahindra+Mutual+Fund+announces+conversion+of+its+scheme+into+open+ended@MF037