UTI Long Term Advantage Fund Debuts At Rs 10.07

UTI Long Term Advantage Fund has debuted at Rs 10.07 per unit as against a face value of Rs 10 per unit. The scheme, whose new fund offer closed on March 20, re-opened for fresh investments and sales on April 17, 2007. UTI Mutual Fund had attracted over Rs 248 crores with the launch of UTI Long Term Advantage Fund, a ten year close-ended Equity Linked Savings Scheme. UTI Long Term Advantage Fund was launched on December 21, 2006. The investment objective of the scheme is to provide medium to long term capital appreciation along with income tax benefit. Investment made in the scheme will qualify for deduction from Gross Total Income upto Rs.1,00,000/- (along with other prescribed investments) under section 80C of the Income Tax Act, 1961.