| Moreover, the company is planning to open 2-3 branches in northern region (including Punjab, Haryana, Himachal Pradesh and Jammu and Kasmir) to further strengthen its presence. At present they have 4 branches in the region. |
| The company today launched its new scheme 'UTI-Wealth Builder Fund' which would close on October 11. It is a close-ended equity scheme with a maturity period of five years with automatic conversion into an open-ended scheme upon maturity of the scheme. |
| Regional Head (North) Ramesh Meena said, "To satisfy the needs of investors who think long term, UTI Mutual Fund is expanding its product suite. The new scheme aims to build and maintain a diversified portfolio of equity stocks that has the potential to appreciate in the long run." |
| He added apart from being a 5-year close-ended equity scheme, it will also utilise derivatives to hedge the portfolio. |
| He said, "We are hopeful to raise Rs 300-400 crore from the Punjab market through this new fund. |
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