Jul 17, 2017 04:02 PM IST | Source: Moneycontrol.com
UTI MF seeks SEBI nod to launch close-ended equity fund
Each Series under the Scheme will have tenure of 3 years to 10 years from the date of allotment of units under the respective series
UTI Mutual Fund has filed an offer document with the Securities and Exchange Board of India seeking approval to launch UTI Focussed Equity Fund – Series IV, Series V and Series VI, according to the information on the capital market regulator's website.
Each series under the scheme will have a tenure of 3 years to 10 years from the date of allotment of units under the respective series. The exact duration of the Series under the scheme shall be decided at the time of launch of the respective series.
A close ended equity oriented scheme will invest at least 65 percent of its corpus in equity and equity related instruments, while the balance 35 percent will be deployed in debt and money market instruments.
Plans: Regular and direct;
Options: Growth and dividend;
Entry load: Nil;
Exit load: Nil if investments are redeemed on or after the respective maturity date of the scheme;
Benchmark index: S&P BSE 200 Index;
Fund Managers: Vetri Subramaniam and Sachin Trivedi