UTI Mutual Fund has filed offer document with Sebi to launch UTI-Regular Income Scheme, an open ended income scheme. The New Fund Offer price is Rs 10 per unit.
Investment objective: The investment objective of the scheme is to generate regular income through investments in fixed income securities and capital appreciation/dividend income through investment of a portion of net assets of the scheme in equity & equity related instruments and/or Gold ETFs so as to endeavor to make periodic income distribution to unitholders.
Options: The scheme offers growth and dividend (payout and reinvestment) option.
Asset Allocation: The scheme shall invest 80% to 100% of assets in debt & money market instruments including securitized debt, upto 10% in equity & equity related instruments and upto 10% in gold ETFs.
Benchmark: The Scheme's performance will be benchmarked against CRISIL MIP Blended Index.
Loads: Entry load charge will be nil. Exit load charge will be 1%, if the holding period is less than or equal to 1 year.
Minimum Application Amount: Rs. 5,000 and in multiples of Rs 1 thereafter without any upper limit.
Minimum Target Amount: Rs. Twenty crore
Fund Manager: The scheme will be managed by Amandeep S Chopra and Arpit Kapoor.