Mumbai-based Kotak Mahindra Mutual Fund has rolled out a 370-day closed-end income scheme, Moneylife Personal Finance reports. Looking to contain the interest rate risk, the Kotak FMP Series 62 is eyeing investments in debt and money market securities, maturing on or before the maturity of the scheme.

The new fund will be managed by Abhishek Bisen and Mayank Prakash. The scheme, due to close October 19, will track the Crisil Short Term Bond Index.

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