UTI MF launches Banking & PSU Debt Fund

India Infoline News Service | Mumbai |

UTI Banking & PSU Debt Fund is an open ended income scheme with no assured returns

UTI Mutual Fund (UTI) today announces the launch of a new scheme “UTI –Banking & PSU Debt  Fund”. The New Fund Offer opens on January 27, 2014 and closes on January 30, 2014. The scheme will re-open for continuous purchase and redemption from February 6, 2014 onwards.
 
UTI Banking & PSU Debt Fund is an open ended income scheme with no assured returns. The investment objective of the scheme is to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of predominantly debt and money market securities by Banks and Public Sector Undertakings (PSUs).
 
Sudhir Agarwal the Fund Manager of the scheme said, “The scheme will primarily invest in securities rated AAA/A1+.  The portfolio of the scheme will be actively managed with relative lower risk and volatility and will capitalize on the spreads available at the shorter end of the yield curve. Portfolio duration is likely to be maintained between 12 to 18 months.”
 
Salient Features of UTI Banking & PSU Debt Fund
 
· Eligible Investors:
The scheme is open to resident individuals, institutions as well as to NRIs and FIIs.
 
· New Fund Offer Price:
During the NFO, the units will be sold at face value of Rs.10/-  per unit
 
· Plans and Option(s) Offered:
 
The scheme offers Regular Plan and Direct Plan*
 
Both Plans offer Growth Option and Dividend Option with Dividend Payout and Dividend  Reinvestment facilities
 
Minimum Application Amount:
Minimum Initial investment under both Plans and Options is Rs.5,000/- and in multiples of Rs.1/- thereafter.
 
Subsequent minimum investment amount is Rs.1000/- and in multiples of Rs.1/- thereafter with no upper limit under all Plans and Options
 
· Load Structure
 
Entry Load: NIL
 
Exit Load  :
Less than or equal to (<=) 30 days 0.25%
Greater than (>) 30 days NIL
 
  • Benchmark Index
CRISIL Short term Bond Fund Index


 

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