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Home >> Market >> News >> News Details

Mutual Funds - Reports
10-Aug-2018     11:12

UTI - Equity Savings Fund Floats On

UTI Mutual Fund has launched a new fund named as UTI Equity Savings Fund, an open ended scheme investing in equity, arbitrage and debt. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 10 August and closes subscription on 24 August 2018.

The investment objective of the scheme is to provide capital appreciation and income distribution to the investors using arbitrage opportunities, investment in equity / equity related instruments and debt / money market instruments.

The scheme shall offer two options i.e. dividend, monthly, quarterly dividend and growth option under both regular and direct plan. Dividend has dividend re-investment and dividend payout facility.

The scheme shall invest 65% - 90% of assets in equity & equity related securities with medium to high risk profile and invest 20% - 75% of asset in of which cash future arbitrage opportunities with low to medium risk profile and invest 20% - 50% of asset in of which net long equity position with medium to high risk profile and invest 10% - 35% of asset in debt and money market securities (including securitized debt & margin for derivatives) with low to medium risk profile and invest upto 10% asset in Units issued by REITs & InvITs with medium to high risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.

The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter without any upper limit.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load: Nil

Exit load: 1% - if redeemed on or before 1 year from the date of allotment.

Nil - if redeemed after 1 year from the date of allotment.

The performance of the scheme will be benchmarked against 40% CRISIL Liquid Fund Index, 30% CRISIL Composite Bond Fund Index and 30% S&P BSE 200.

The fund managers of the scheme are V Srivasta (Equity Portfolio) and Sunil Patil (Debt Portfolio).

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