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Monday, August 24, 2015

UTI-Nifty Exchange Traded Fund Floats On

NFO period is from 24 August to 26 August 2015 

UTI Mutual Fund has launched a new fund named as UTI-Nifty Exchange Traded Fund, an open ended exchange traded fund. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 24 August and close on 26 August 2015. 

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities is represented by the underlying index, subject to tracking error. 

The scheme offers only growth option. 

The scheme would invest 95%-100% of assets in securities covered by the CNX Nifty Index with medium to high risk profile and invest upto 5% of assets in cash / money market instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry and exit load charge are not applicable. 

Benchmark Index for the scheme is CNX Nifty Index. 

The fund manager of the scheme will be Kausik Basu. 
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