Kotak Mahindra Mutual Fund has filed offer document with SEBI to launch an open-ended fund named ‘Kotak Nifty Alpha 50 ETF Fund of Fund. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and Exit load if redeemed or switched out on or before completion of 1 year from the date of allotment of units will be 1.00%; If redeemed or switched out after completion of 1 Year from the date of allotment of units will be nil. The scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.The performance of the scheme will be benchmarked by Nifty Alpha 50 Total Return Index. The minimum application amount is Rs 5000 and in multiples of Re 1.The investment objective of the scheme is to provide long-term capital appreciation by investing in units of Kotak Nifty Alpha 50 ETF.