UTI MF under UTI Wealth Builder Fund--Series II is expected to mop more over Rs 300 crore, which closed for subscription under new fund offer. Rs 50 crore was collected in the first week itself. According to UTI Asset Management Chief Marketing officer Joydeep Bhattacharya ""UTI Wealth Builder Fund--Series II was sold three times more than our expectations. In the first week itself, we collected Rs 50 crore.
We expect more than Rs 300 crore investment," On investing the part of fund to exchange traded gold funds, Bhattacharya said gold is the best hedge against inflation. In the last year, gold has given 16 per cent return, while the stock market has been down by 55 per cent.
We expect more than Rs 300 crore investment," On investing the part of fund to exchange traded gold funds, Bhattacharya said gold is the best hedge against inflation. In the last year, gold has given 16 per cent return, while the stock market has been down by 55 per cent.
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