UTI Mutual Fund announces the launch of UTI- Fixed Term Income Fund- Series II- Plan 16 from November 27, 2006. The new fund offer (NFO) closes on December 11, 2006. Purchase of units will be available only during NFO period.
UTI- Fixed Term Income Fund- Series II is a close ended income scheme. The scheme contains three Plans viz. Plan 16, Plan 36 and Plan 60. Presently UTI Mutual Fund is launching Plan 16.
UTI- Fixed Term Income Fund- Series II aims to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of respective plan(s). However, the scheme does not guarantee/indicate any returns.
Shri Amandeep Chopra, Fund Manager of Plan 16 said, "UTI- Fixed Term Income Fund- Series II-Plan 16 provides an attractive investment opportunity with superior tax-adjusted returns and insulates investor from adverse interest rate movements."
Salient Features of UTI- Fixed Term Income Fund- Series II-Plan 16
·Eligible Investors: The plan is open to resident individuals,institutions,
