UTI Mutual Fund announces the launch of a new scheme “UTI Dynamic Bond Fund” The New Fund Offer has opened on June 16, 2010 and closes on June 23, 2010. The scheme will re-open for purchase and redemption not later than 30 days from the closure of the NFO period.
UTI Dynamic Bond Fund is an open ended income scheme. The investment objective of the Fund is to generate optimal returns with adequate liquidity through active management of the portfolio, by investing in debt and money market instruments.
Mr Puneet Pal, Fund Manager of the scheme said, “UTI Dynamic Bond Fund will be actively managed in line with the evolving interest rate scenario. It will have the ability to mimic a cash fund when interest rates are rising thereby preserving capital and it will endeavour to generate attractive returns of an income fund when interest rates are declining.”
Salient Features of UTI- Dynamic Bond Fund
- Eligible Investors: The fund is open to resident individuals, institutions as well as to NRIs and FIIs.
- New Fund Offer Price: During the NFO, the units will be sold at face value of Rs.10/- .
- Plans and Options: Growth and Dividend option with payout and reinvestment facilities
*Asset Allocation:
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| Instruments |
Indicative Allocations |
Risk Profile | |
| Minimum | Maximum | ||
| Money Market, Debentures and Securitised Debt with residual maturity of less than one year | 0% | 99% | Medium to Low |
| Debt Instruments including securitized debt with maturity of more than one year | 1% | 100% | Medium |
- Minimum Application Amount:
Minimum Initial investment is Rs.10,000/- and in multiples of Rs.1/- thereafter. - Load Structure during the NFO period:
Entry Load : NIL
Exit Load : 0.50% if withdrawn on or before 30 days from date of investment
- Benchmark Index: CRISIL Composite Bond Fund Index
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund has assets under management (average) of Rs.78617.15 crore and investor accounts of 1 crore under its 74 domestic schemes (as of May 31, 2010).
