UTI Mutual Fund has filed an offer document for UTI Savings Bond Fund. It is a close-ended income scheme comprising of 4 series of plan 60 (60 months). The new fund offering (NFO) for the scheme is Rs. 10. The fund house seeks to collect a minimum corpus of Rs. 10 lakh for the scheme. The scheme offers investors two sub-plans i.e. retail plan and institutional plan. Each sub-plan will have a growth and dividend option.
The minimum investment under retail option with growth sub-option will be Rs 5000 and in multiple of Re 1 thereafter. The investment under dividend sub-option will be of Rs 10,000 and in multiple of Re 1 thereafter. The minimum investment under institutional option will be Rs 1 crore and in multiple of Re 1 thereafter.
The scheme aims to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity periods of plans.
The scheme being close ended will not charge any entry load. There will be exit charge to the extent of unamortised expenses before maturity of the scheme.
The fund will invest 70%-100% in debt including securitised debt and money market instruments and 0%-30% in equity and equity related instruments. The investment in securitised debt may be up to 100% of its portfolio.
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