Kotak Mutual Fund has rolled out a new 24 month close-ended debt fund, MoneyGuru India reports. The Kotak FMP Series 50 aims to generate returns through investments in debt and money market instruments to reduce interest rate risk.

The new issue, which offers growth and dividend payout option, will be open for subscription from June 7, 2011 and close on June 13, 2011. The performance of the scheme will be benchmarked against the Crisil Short Term Bond Index and it will be managed by Deepak Agrawal and Abhishek Bisen.

Click here for the story from MoneyGuru India.