UTI Mutual Fund launched UTI Fixed Term Income Fund- Series III-Plan 18, a close-ended income scheme. The scheme, which will have a maturity of 18 months, opens for subscription on 8 October 2007 and closes on 15 October 2007. Being a close-ended scheme, it will not have any entry load. However, an exit load of 3% or unamortized expenses, whichever is higher will be levied if redeemed before due date. The investment objective of the scheme is to generate regular returns by investing in a portfolio of fixed income securities.
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