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 20 March 2007, re-opened for fresh investments and sales on 17 April 2007.
UTI Mutual Fund had attracted over Rs 248 crore 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 21 December 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.
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