Mastergain becomes UTI Equity Fund

UTI Mastergain Unit Scheme has been rechristened as UTI Equity Fund with effect from July 1. All the other terms and features of the scheme remain unchanged.

The name has been changed to distinguish the scheme from other 'Master Series' schemes and to bring clarity to the connotation of the name with respect to current positioning of the scheme as an aggressively managed, diversified equity fund.

UTI Equity Fund (formerly UTI Mastergain Unit Scheme) is an open-ended equity scheme having over 10 lakh investors and a fund size of over Rs 1,200 crore.

The scheme primarily aims at securing for its unit holders capital appreciation by investing in equity shares, convertible and non-convertible bonds/ debentures of companies with good growth prospects and money market instruments.

The scheme invests at least 80 per cent of its fund in equity and equity-related instruments with medium to high risk profile and up to 20 per cent in debt and money market instruments with low to medium risk profile.