UTI Mutual Fund today launched its unique scheme, "UTI Wealth Builder Fund-Series II" which combines the benefits of both equity and gold.
The new fund Offer closes on November 18, 2008. The scheme will re-open for purchase and redemption not later than 30 days from the closure of the NFO period, D Mohanty, Country-Head (Sales), UTI, told mediapersons.
UTI Wealth Builder Fund-Series II is an open ended equity oriented scheme. The investment objective of the Fund is to achieve long-term capital appreciation by investing predominantly in a diversified portfolio of equity and equity releated instruments alongwith investments in Gold ETFs and Debt and Money Market instruments.
Mohanty said, "UTI Wealth Builder Fund-Series II is the first of its kind in the mutual fund industry to offer asset allocation which combines traditional as well as non- traditional asset class i.E. Equity and Gold."