UTI MF announced the launch of UTI Energy Fund. This is an open ended equity scheme.To enable the investors to capture the growth potential of a broad based energy sector, UTI Mutual Fund is widening the investment objective of its existing UTI-GSF-Petro and renaming the Fund to UTI Energy Fund. The investment objective of UTI-GSF-Petro was to invest in petro sector companies which constitute only a part of the overall energy sector. The investment objective of UTI Energy Fund will cover the entire energy sector to capitalize on the emerging opportunities across the sector.
In addition to investing in stocks in the oil & gas sector covering companies engaged in drilling, exploration, refining of crude oil and distribution, UTI Energy Fund will also invest in power generation companies (power generation, transmission, distribution and power trading & companies involved in consulting and financing these businesses), energy storage and distribution companies and equipment manufacturers for the energy sector.
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