Kotak FMP 3M Series 18 declares dividend

Kotak Mahindra Mutual Fund has approved the declaration of dividend under the Kotak FMP 3M Series 18. The record date for dividend is set as 16 August 2007. The NAV for the schemes stood at Rs. 10.227on 9 August 2007. The AMC plans to distribute 100% of distributable surplus as on record date. Kotak FMP 3M Series 18 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.