UTI Mutual Fund files offer document for its UTI Dual Advantage Fixed Term Fund - Series I.

UTI Mutual Fund files offer document for its UTI Dual Advantage Fixed Term Fund - Series I.

UTI Mutual Fund has filed a draft offer document with SEBI for its close ended hybrid scheme called - UTI Dual Advantage Fixed Term Fund - Series I.

The scheme aims to generate income and reduce interest rate volatility by investing in fixed income securities that are maturing on or before the date of maturity of the Scheme and to generate capital appreciation by investing in equity and equity related instruments. The scheme will invest 65%-95% in debt, 5%-35% in equity and equity related instruments and up to 30% in money market instruments.

The benchmark of the scheme is CRISIL MIP Blended Fund Index. The fund will be co-managed by Sunil Patil and V Srivasta.