Be cautious of fake social media groups promising huge returns: Kotak Mutual Fund
Nov 25, 2022
New Delhi [India], November 25 : Kotak Mutual Fund has cautioned all its investors, partners and the public at large regarding the fraudulent Telegram and social media groups and communities that promise huge amounts of returns against their investment.
This advisory by the firm came after multiple social media entities over Telegram and other social media channels have what it said "misused" the Kotak Mutual Fund brand name, logo and spokesperson's identity to misguide investors.
"Kotak Mutual Fund has only one official Telegram handle (https://t.me/kotakmutualfund) and it does not promise or misguide investors in any form or on any social platforms for abnormal earnings or returns while investing in mutual funds," it said in a statement on Friday.
Mutual Fund investments are subject to market risks and investors should read all scheme-related documents carefully before investing, the statement cautioned.
Furthermore, it requested the users and investors to report those fraudulent groups on Telegram in case they come across to abuse@telegram.org or write to at mutual@kotak.com.
Kotak Mahindra Asset Management Company Limited (KMAMC) - a wholly owned subsidiary of Kotak Mahindra Bank Limited (Kotak), is the Asset Manager for Kotak Mahindra Mutual Fund (KMF).
KMAMC started operations in December 1998 and as of September 2022, it has approximately 43.8 lakh investor folios in various schemes.
