UTI Mutual Fund launches UTI- Infrastructure Advantage Fund-Series I
PFW Bureau / Nov 14
UTI Mutual Fund launched a new scheme, UTI-Infrastructure Advantage Fund-Series I. The new fund offer (NFO) opens on November 12, 2007 and will close on December 19, 2007. Units can be purchased only during the NFO period.
UTI- Infrastructure Advantage Fund-Series I is a three year close-ended equity scheme with an investment objective to provide income distribution and medium to long-term capital appreciation by investing pre-dominantly in equity or equity related instruments.
On the occasion, Jaideep Bhattacharya, chief marketing officer, UTI AMC said, “Infrastructure sector plays an important role in the country’s development and GDP growth. The importance of infrastructure for a sustained economic development is well recognised today”.
Investment in Infrastructure has gained momentum in the last few years and is experiencing a rapid growth across different sub-sectors. Union government has started major initiatives to open up the infrastructure development to private sector companies in order to further hasten the growth. To enable investors to capitalise on this boom, UTI Mutual Fund is launching the new scheme, he said.
Sanjay Dongre, fund manager, UTI AMC said, “The scheme aims to build and maintain a diversified portfolio of equity stocks within the infrastructure theme that has the potential to appreciate in the long run. The scheme will invest in sectors that include, construction, energy, engineering, metals, power, telecom, transportation and airports.“
Purchase Price : Units can be purchased only during the NFO period at the face value of Rs 10/- per unit.
Redemption Price : The scheme will offer for redemption or switch out of units within 6 months from the closure of the New Fund Offer (NFO) and thereafter on an ongoing basis at NAV based prices on every business day.
Asset Allocation Pattern
Types of Instruments |
Normal Allocation
(% of Net Assets) |
Risk Profile |
Equity & Equity related instruments of companies engaged either directly or indirectly in the Infrastructure sector |
65%-100% |
Medium to High |
Debt and Money Market Instruments including Securitised debt |
0-35% |
Low to Medium |
Options: Growth Option and Dividend Option with payout facility
Entry Load : The scheme, being a close-ended scheme, is not permitted to charge entry load.
|
