UTI Mutual Fund files offer document for its Medium Term Fund
UTI Mutual Fund has filed a draft offer document with SEBI for its open ended income scheme called – UTI Medium Term Fund.
The scheme aims to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of money market securities and high quality debt. The scheme will be investing 55% to 100% in government securities issued by Central and or State Govt. and debt securities including but not limited to corporate bonds and securitized debt and up to 45% in money market instruments.
The benchmark of the scheme is CRISIL Composite Bond Fund Index. The exit load if redeemed within 365 days will be 1%, if redeemed after 365 days and before 548 days will be 0.5% and there will be no exit load if redeemed after 548 days.
The fund will be co-managed by Amandeep Chopra and Ritesh Nambiar.
