Date:16/12/2006 URL: http://www.thehindubusinessline.com/2006/12/16/stories/2006121605951500.htm

Back UTI MF launches closed-ended scheme

Our Bureau

Mumbai , Dec 15

UTI Mutual Fund has launched UTI-Capital Protection Oriented Scheme- Series I, a closed-ended scheme oriented towards protecting the capital at the end of the term.

The new fund offer opens on December 26 and closes on January 25. The scheme will offer a three-year and a five-year plan.

The fund will invest in high-quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity-related instruments as the secondary objective.

"The scheme's portfolio structure has been rated AAA (SO) by Crisil Ltd, indicating highest degree of certainty on payment of face value of investment to unit holders on maturity," said Mr Jaideep Bhattacharya, Chief Marketing Officer.

The scheme will have growth and dividend payout options. The minimum initial investment is Rs 10,000 for dividend option and Rs 5,000 for growth option.

The fund has been benchmarked against the Crisil MIP Blended Index.