UTI Mutual Fund has filed a draft offer document with SEBI for its open ended income scheme with no assured returns called – UTI Short Term Opportunities Fund.
The scheme aims to generate regular income and capital appreciation over the short term investment horizon, from a portfolio of debt and money market instruments and government securities with average maturity of the portfolio not exceeding 36 months.
The scheme plans to invest 65-100% in debt including government securities issued by Central/State Government and up to 35% in money market securities.
The benchmark of the scheme is CRISIL Short Term Bond Fund Index. The exit load if redeemed within and including 365 days from the date of allotment will be 1% and beyond 365 days from the date of allotment, there will be no exit load.
The scheme will be co-managed by Amandeep Chopra and Ritesh Nambiar, while the investments in foreign debt securities will be managed by Arpit Kapoor.
