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Thursday, July 16, 2009

UTI MF introduces new plan

With effect from 13 July 2009

UTI Mutual Fund has introduced Institutional Plan Under UTI-Floating Rate Fund (Short Term Plan) with effect from 13 July 2009.

Feature of Institutional Plan:

Option & Sub option under Institutional Plan: The plan will have growth, daily dividend and weekly dividend option.

The dividend declared under the daily dividend option and weekly option would be compulsorily re-invested in the fund by way of allotment of additional units at the prevailing ex-dividend NAV per unit.

Minimum initial investment: Minimum investment under the plan is Rs 1 lakh and in multiples of Re 1 thereafter

Loads: The scheme shall not charge any entry load.

The scheme will charge an exit Load of 0.75%, if the investment is redeemed on or before 7 days from the date of acceptance.

UTI Floating Rate Fund is an open-ended income scheme, which has the objective to generate income through investment in a portfolio comprising substantially of floating rate debt/money instruments, fixed rate debt/money market instruments swapped for floating rate returns. The scheme may also invest a potion of its net assets in fixed rate debt securities and money market instruments.

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