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UTI Mutual Fund has launched UTI Innovation Fund, an open-ended equity scheme that will invest in innovation-oriented businesses.
The fund house will identify innovative companies based on three parameters: Companies using innovation to enhance productivity or improve environmental/social impact, companies with significant growth potential, demonstrated track record of developing the market and/or gaining market share and financially strong companies with market leadership, robust business models, quality management and corporate governance.
In a press release, Ankit Agarwal, Fund Manager, UTI MF said, “It is a unique portfolio that is true-to-label, investing predominantly in innovative businesses and disruptors. In an era of rapid technological advancements and evolving market dynamics, it's an opportunity to embrace innovation, adapt to market dynamics, and participate in potential wealth generators that could grow in a non-linear fashion.”
The fund house believes that investors should consider investing in this fund with a minimum horizon of 3-5 years.
