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Saturday, Mar 26, 2005

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Kotak Life unveils floating rate fund

Our Bureau

Mumbai , March 25

KOTAK Life Insurance has introduced a floating rate fund in its existing unit linked plans Kotak Easy Growth Plan and Kotak Safe Investment Plan II.

According to a press release, the company has introduced the fund to counter volatility and mitigate risk arising from interest rate fluctuations.

Mr Gaurang Shah, MD, Kotak Life Insurance said that "We have added the floating rate fund since it seeks to deliver returns in line with the market interest rate, from a portfolio invested in floating rate debt instruments. This is ideal for people looking for liquidity and safety."

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