UTI Mutual Fund has preponed the new fund offer period for UTI Fixed Maturity Plan Quarterly Series 06/08-I. The fund will now close on 12 June 2008, instead of 13 June 2008. The issue was opened for subscription from 2 June 2008. It is a close-ended umbrella income scheme seeking to generate regular income through investments in debt, money market instruments and government securities with suitable maturity. The scheme aims to seek regular returns by investing in a portfolio of fixed income securities normally maturing in line with the time profile of the plan, thereby enabling the investors to nearly eliminate interest rate risk by remaining invested in the plan till the maturity. The scheme will have 20-100% in debt securities and money market securities with residual average maturity of equal to or less than 410 days.
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