UTI MF launches “UTI-Fixed Term Income Fund – Series XIX – XIV (1832 days)”; NFO
to close on July 25
21/07/2014 11:13
UTI Mutual Fund has launched a new close ended income scheme named “UTI-Fixed Term Income Fund – Series XIX – XIV (1832 days)” with maturity period of 1832 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 16 and will close on July 25. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth, Quarterly Dividend, Flexi Dividend, Annual Dividend and Maturity Dividend option. The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Manish Joshi will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns will be met by investing in a portfolio of debt instruments and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in debt instruments and 0 to 20 per cent of asset in money market instruments.
21/07/2014 11:13
UTI Mutual Fund has launched a new close ended income scheme named “UTI-Fixed Term Income Fund – Series XIX – XIV (1832 days)” with maturity period of 1832 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on July 16 and will close on July 25. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth, Quarterly Dividend, Flexi Dividend, Annual Dividend and Maturity Dividend option. The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. Manish Joshi will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns will be met by investing in a portfolio of debt instruments and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in debt instruments and 0 to 20 per cent of asset in money market instruments.
