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Friday, February 07, 2014

UTI MF Launches UTI – FTIF – Series XVII – XII (1148 Days)

NFO period is from 07 February to 14 February 2014 

UTI Mutual Fund has launched a new fund named as UTI - Fixed Term Income Fund – Series XVII – XII (1148 Days), a close ended income scheme. The duration of the scheme is 1148 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue which is open for subscription from 07 February will close on 14 February 2014. 

The investment objective of the scheme is to generate returns by investing in a portfolio of fixed income securities maturing on or before the date of maturity of the scheme. 

The scheme offers growth option, quarterly dividend option with payout and reinvestment facility, flexi dividend option with payout and reinvestment facility, annual dividend option with payout and reinvestment facility and maturity dividend option with payout facility. 

The scheme will allocate 80%-100% of assets in debt instruments with low to medium risk profile and upto 20% of assets would be allocated to money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 10 under all the options.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. Entry and exit load charge will be nil for the scheme. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The scheme will be managed by Manish Joshi.
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