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Friday, February 27, 2009

UTI SPrEAD Fund introduces SIP & Dividend Payout facility

With effect from 16 February 2009

UTI Mutual Fund has introduced the Systematic Investment Plan (SIP) and Dividend Payout facility under UTI SPrEAD Fund, with effect from 16 February 2009.

The scheme has introduced the dividend payout facility under divided option. The existing investors of dividend option will continue to be under dividend option-reinvestment facility of the scheme on or after 16 February 2009.

Systematic Investment Plan (SIP) is introduced under the scheme. The SIP is offered with Monthly SIP (MSIP) and Quarterly SIP (QSIP). Both the options can not be combined. A separate enrollment form needs to be filled in for MSIP and QSIP. SIP Mandate form can be submitted at least 1 month before the firs SIP installment date. The forms that are received within the period of 1 month before the first SIP installment date, will be considered from the SIP date of the following month/ quarter, as per the date (1st/7th/15th/25th) opted by the investor.

The load applicable under SIP is the same as for regular investment i.e. no entry load. The exit load of 0.75% will be charged for the investment amount less than Rs 2 crore is redeemed on or before 180 days. And 0.50% of exit load will be charged for the investments greater than or equal to Rs 2 crore, if redeemed on or before 25 days.

The minimum amount of each investment for SIP is Rs 500 (for monthly option) and Rs 1500 (for quarterly option) and in multiples of Re 1.

The scheme is an open ended equity fund investing in a mix of equity, equity derivatives, debt and money market instruments. The investment objective of the Fund is to provide capital appreciation and dividend distribution through arbitrage opportunities arising out of price difference between cash and derivative market by investing predominantly in equity and equity related securities, derivatives and the balance option in debt securities.

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