Kotak FMP 3M Series 16 declares dividend

Kotak Mahindra Mutual Fund has approved the declaration of dividend under the Kotak FMP 3M Series 17. The record date for dividend is set as 9 August 2007. The NAV for the schemes stood at Rs. 10.233 on 2 August 2007. The AMC plans to distribute 100% of distributable surplus as on record date.Kotak FMP 3M Series 16 is a close-ended debt fund with an objective to generate returns through investment in debt and money market instruments with a view to significantly reduce the interest rate risk.