With effect from 14 January 2011
UTI Mutual Fund has announced the merger of UTI-Infrastructure Advantage
Fund – Series I into UTI-Infrastructure Fund with effect from 14
January 2011. UTI- Infrastructure Advantage Fund – Series I is a 3 year
close ended equity scheme launched in November – December 2007 is due
for maturity on 17 January 2011.
In pursuant to the merger of scheme, the option chosen by the investor
(growth or dividend) will remain same in the merged scheme i.e.,
UTI-Infrastructure Fund.
UTI-Infrastructure Advantage Fund – Series I investors will be allotted
units of UTI-Infrastructure Fund as per the applicable NAV. As a result,
UTI-Infrastructure Fund would have an increased investor base and
corpus to the extent of switchover from UTI-Infrastructure Advantage
Fund – Series I.
Unitholders of the scheme who are not in agreement with the merger may
redeem their units at applicable NAV without payment of exit load from
16 December 2010 and 14 January 2010 (both days inclusive).
The conversion will be done at the NAV computed for UTI-Infrastructure
Advantage Fund – Series I and UTI-Infrastructure Fund on 14 January
2011.
Change in Fundamental Attributes of UTI-Infrastructure Fund
With effect from 14 January 2011the fundamental attributes of UTI-Infrastructure Fund will be changed as follows:
Investment Objective: The investment objective of the scheme is
to provide income distribution and / or medium to long term “capital
appreciation” by investing predominantly in equity/equity related
instruments in the companies engaged either directly or indirectly in
the infrastructure growth of the Indian economy.
Asset Allocation: The scheme would allocate 65% to 100% of assets
in equity and equity related instruments of companies engaged directly
or indirectly in the infrastructure sector. It would further allocate
upto 35% of assets in debt and money market instruments including
securitised debt.