Kotak Mahindra launches 'global emerging market fund'

New Delhi, Aug 3 (UNI) Kotak Mahindra Asset Management Company (KMAMC) today announced the launch of Kotak Global Emerging Market Fund, a three year close-end equity scheme investing in emerging economies across the globe.

''The investment objective of the scheme is to provide long-term capital appreciation by investing in an overseas mutual fund scheme,'' said company Chief Strategist Alroy Lobo.

KMAMC has identified Luxembourg-domiciled T Rowe Price Global Emerging Markets Equity Fund-SICAV (TGEMF) as the portfolio for the purpose.

TGEMF invests in equity and equity related securities of companies in the economically emerging countries of Latin America, Asia, Europe, Africa and the West Asia.

Mr Alroy Lobo said the centres of economic excellence are shifting to emerging markets like India, China, Russia, Mexico and Brazil.

The exit load during the liquidity window is nil.

The new fund offer, with minimum investment of Rs 5,000 and in multiple of Re one, closes on August 24, 2007.

Set up in 1998, Kotak Mutual Fund currently manages assets in excess of Rs 17,253.17 crore, contributed by over four lakh investors as on June 30, 2007.

UNI