Kotak Mutual Fund, one of the leading mutual funds in the country, has launched a new fund named as Kotak FMP 18M Series 2, a close ended debt scheme.

The new fund offer (NFO) price for the scheme is Rs 10 per unit, which will open for subscription from Nov. 5, 2009. The fund will close subscription on Nov. 18, 2009.

The minimum application amount is Rs 5,000 and in multiples of Rs 10, and it offers both growth and dividend payout option.