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UTI Mutual Fund has launched two new index funds: ‘UTI Nifty200 Quality 30 Index Fund’ and the ‘UTI Nifty Private Bank Index Fund’.
The UTI Nifty200 Quality 30 Index Fund will track the performance of the Nifty200 Quality 30 Index while the Nifty Private Band Index is the underlying index of UTI Nifty Private Bank Index Fund.
The Nifty200 Quality 30 Index Fund shortlists 30 stocks from the basket of the top 200 companies based on financial metrics and balance sheets. The fund house believes that quality style has been out of favour for the past 4 years and offers a timely opportunity to benefit from the potential style rotation on the market.
On the other hand, the Nifty Private Bank Index Fund offers exposure to the top 10 private sector banks. The recent underperformance in this sector also gives an opportunity for investors to benefit from the expected potential growth, said the fund house.
