UTI Mutual Fund launches UTI Energy Fund

PFW Bureau / Oct 6

UTI Mutual Fund has launched  UTI Energy Fund on October 5. UTI Mutual Fund is widening the investment objective of its existing UTI-GSF-Petro by renaming the fund to UTI Energy Fund.

The investment objective of UTI-GSF-Petro was to invest in petro sector companies which constitute only a part of the overall energy sector. The investment objective of UTI Energy Fund will cover the entire energy sector to capitalise on the emerging opportunities across the sector.

In addition to investing in stocks in the oil & gas sector covering companies engaged in drilling, exploration, refining of crude oil and distribution, UTI Energy Fund will also invest in power generation companies (power generation, transmission, distribution and power trading & companies involved in consulting and financing these businesses), energy storage and distribution companies and equipment manufacturers for the energy sector.

Jaideep Bhattacharya, chief marketing officer, UTI AMC said, "Energy powers the economic growth of any nation. Availability of energy with the required quality of supply is the key to sustainable development. In recent times. India has been witnessing a huge growth in energy demand in line with the unprecedented boom across sectors. UTI Energy Fund offers an opportunity to investors to ride on this energy demand and grow their investment."

Gautami Desai, fund manager of the scheme said, "UTI Energy Fund is poised to capture the investment opportunities of India 's Energy sector. The scheme will invest in a spectrum of sub-sectors or companies which form a part of the energy sector. "

Salient Features of UTI Energy Fund

· Nature of Scheme : An Open ended equity scheme
· Eligible Investors : The scheme is open to resident individuals, institutions as well as to NRIs and FIIs.
· Minimum application amount: Minimum initial investment is Rs.5000/-. Subsequent minimum investment is Rs.1000/-.
Minimum investment under SIP is Rs.500/- for monthly and Rs.1500/- for quarterly plans
· Options available: Growth Option and Dividend Option with payout and reinvestment facilities
· Purchase price : Units can be purchased at NAV plus applicable load