The fund manager said that there is a fake, misleading and fraudulent WhatsApp group under the name “Kotak Club – 213” which is posing as Kotak Mahindra Mutual Fund. The group is engaged in fraudulent activities such as providing information about stocks and trading in the stock market and misusing the name of senior executives, the Kotak logo and brand.
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The notice also mentioned that the group was formed with the intention of defrauding and deceiving the general public.
“This is to bring to the notice of the public that Kotak Mahindra AMC has not authorised any person to create the above fake social media group or to carry out any activity in connection with the said group. The fund manager has stated that it is not in any manner associated with these fake social media groups created by these fraudsters,” the notice reads.
It mentioned that, “We would like to inform the public that Kotak Mahindra AMC is in no way associated with these fake social media groups created by these scammers and we condemn such acts as fraudulent.” “We advise the general public to remain alert against such scams and exercise due caution. Kotak Mahindra AMC will not accept any responsibility or liability of any kind for any loss that anyone may suffer or incur due to any transaction entered into with such unknown individuals or agencies making false claims,” the notice added. Also Read | Nippon India Nifty 500 Momentum 50 Index Fund Opens for Subscription. Key Things to Know
To caution investors, the fund house also said that investments in Kotak Mahindra Mutual Fund can be made only through its official and registered addresses.
In case of any queries, you can visit the website at www.kotakmf.com or visit any of the fund house’s branches.
As per the August portfolio, the fund house manages assets worth Rs 4.75 lakh crore and 132 mutual fund schemes.
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