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Friday, April 24, 2009

UTI MF announces changes

With effect from 15 April 2009

Systematic Transfer Investment Plan (STRIP) under Retail Plan: Systematic transfer of contribution amount from UTI Floating Rate Fund (Short Term Plan) has been allowed with effect from 15 April 2009 and UTI Spread Fund can be chosen as a destination scheme under STRIP with effect from that date. This is in addition to the other schemes available under STRIP as detailed in the statement of additional information (SAI).

1) Additional schemes available for STRIP would be as:

Source scheme: UTI Floating Rate Fund (Short Term Plan) Destination schemes: UTI Spread Fund

2) Date of transfer:

i) STRIP is allowed/ effected only on the specified dates as mentioned in the SAI.

ii) If the balance available in the folio is less than the amount specified for STRIP, the STRIP arrangement gets terminated.

iii) As per the terms of UTI Floating Rate Fund (Short Term Plan), an exit load of 0.75% is applicable for redemption/ switch/STRIP on or before 7 days from the day of acceptance. As per the terms of STRIP, redemption of units in the source scheme will be done without any exit load. If the additional purchase is made in the folio to meet the shortfall in the amount for STRIP, the same will have to be made with a gap of minimum 7 days from date of such purchase to the stipulated date of transfer. Otherwise, the date of transfer will be skipped to next date of transfer.

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