UTI Mutual fund has unveiled UTI Short Term Fixed Maturity Plan -Series I-VI (91days) on 22 August 2008. The new fund offer period will remain open for fresh subscription till 26 August 2008. The new offer price of units is Rs 10 per unit. This is a close-ended income scheme with plan tenure of 91 days with an investment objective to generate regular returns by investing in portfolio of fixed income securities normally maturing in line with the maturity period of the plan.
The scheme offers investors growth and dividend options. The scheme will have investment up to 90% in debt including securitised debt and 10-100% in money market instruments. The plan may invest up to 100% of its debt portfolio in securitised debt. As the scheme is of close-ended nature, it is not applicable to entry load. The fund will ask 1% as an exit load for redemption before maturity.
The scheme offers investors growth and dividend options. The scheme will have investment up to 90% in debt including securitised debt and 10-100% in money market instruments. The plan may invest up to 100% of its debt portfolio in securitised debt. As the scheme is of close-ended nature, it is not applicable to entry load. The fund will ask 1% as an exit load for redemption before maturity.
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