The changes will come into effect on 4 September. The fund manager announced this change in a notice-addendum dated 2 September.
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The fund manager announced that it has decided to resume subscription through lump sum, systematic re-listing (SIP/STP), switch or STP/DTP transaction fees in the Kotak Global Emerging Market Fund.
Full utilization of overseas resources investment limit The subscription limit will remain at the amount prevailing as at the end of the day on 1st February 2022, to ensure compliance with the Sebi directive. The fund manager, at its discretion, reserves the right to suspend subscriptions when the margin limit available as at 1st February 2022 is approached.
On 1st February 2022, Kotak Mutual Fund, by a notice with addendum dated 1st February 2022, temporarily suspended transactions in Kotak Global Emerging Market Fund with effect from 2nd February 2022, to avoid non-compliance with the overseas industry limits permitted by the RBI. The market regulator, in its letter dated 17th June 2022, had stated that mutual funds Schemes may resume subscriptions and make investments in foreign funds/securities up to the available margin without violating the foreign investment limits from February 1, 2022, at the mutual fund level. Also Read | Best Large Cap Mutual Funds to Invest in September 2024
All other terms and conditions of the Statement of Additional Information (SAI)/Scheme Information Document (SID)/Key Information Memorandum (KIM), including the scheme application form referred to above, remain unchanged. This annex forms an integral part of the SAI/SID/KIM, including the scheme application form and the common scheme application form, as amended from time to time.
On September 2, Kotak Mutual Fund published another notice and annexure, mentioning that the manager of two funds (Kotak ESG Exclusionary Strategy Fund and Kotak Debt Hybrid Fund) had been changed. The changes came into effect on September 3.
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