Mumbai, July 08: Kotak Mahindra Mutual Fund today launched "k floater", an open-ended debt scheme. "K floater" would invest in floating rate instruments, which are debt securities with a coupon periodically reset depending on the predetermined benchmark, Kotak Mahindra MF said in a release here today.

The scheme was suitable for investors wanting to reduce interest rate risk associated with fixed rate investments, it said.
The minimum investment was Rs 5,000 and there was no entry and exit loan on purchase or redemption, it added. Bureau Report