MFIs/MFDs/RIAs/RFDs are hereby informed that we have received communication from KOTAK MAHINDRA MUTUAL FUND regarding suspension of Inflows/subscription (Fresh/Additional Purchase, SIP, Switch-In & STP In) under KOTAK NASDAQ 100 FUND OF FUND on BSE StAR MF Platform with effect from March 27, 2024.
Further, as intimated by Kotak Mahindra AMC, fresh Subscriptions, Switch-in, SIP, STP In applications received post cut-off timing of March 26, 2024, shall not be accepted.
As confirm by Kotak Mahindra AMC Kotak Mahindra, the existing Systematic Investment Plan (SIPs) registered on BSE StAR MF Platform in above scheme will not get continue to process at AMC/RTA end. Hence the funds debited from client bank account for SIP due on or after March 27, 2024, shall be refunded to the investor.
Also, as per Kotak Mahindra AMC confirmation, Exchange is temporarily pausing the existing Systematic Investment Plan (SIP’s) registered under above scheme and shall be reactivated after further notice received from AMC end. Also, Systematic Transfer Plan (STP) shall be terminated/cancelled with immediate effect.
The notice cum addendum issued by Kotak Mahindra AMC is attached.
Members can reach us through our Mutual fund Helpdesk numbers on 022-45720450 and 022-45720650 on business day between 8:00am to 7:00pm. You can also raise your queries on our CRS portal: - https://bsecrs.bseindia.com
Ketan Jantre Zeeta Eustace
Chief General Manager – Mutual Funds Dy. General Manager – Mutual Funds |