UTI MF Unveils Infra Advantage Fund Series

Chandigarh: With the unveil of its Infrastructure Advantage Fund Series I, UTI Mutual Fund expects to raise Rs 150 crore from Punjab, Chandigarh, Himachal Pradesh, Jammu & Kashmir and Haryana. They expect with the launch of this fund we would be able to attract an investment of Rs 4,000 crore from across India. So far this part (Punjab, Chandigarh, Himachal Pradesh, Jammu & Kashmir and Haryana) of the region is concerned, they are hopeful this fund would raise Rs 150 crore. They are planning to open three more offices in Panipat, Patiala, and Jammu. The company has total assets of Rs 51,753 crore under management and investor accounts of over 8 million under its 73 domestic schemes (as of October 31, 2007).
The UTI Infrastructure Advantage Fund Series I is a three year close-ended equity scheme with an investment objective to provide income distribution and/or medium- to long-term capital appreciation by infusing predominantly in equity/equity related instruments in the companies engaged either directly or indirectly in the infrastructure growth of the country.