UTI Mutual Fund seems to have hopped on to this bandwagon pretty late. It has just launched its lifestyle fund to join others already in the fray.
Name of fund: UTI-India Lifestyle Fund
Scheme: Close-ended, Equity Diversified
Tenure of fund: 3 years after which it will convert into an open-ended scheme
Objective: To provide long term capital appreciation and / or income distribution from a diversified portfolio of equity and equity related instruments of companies that are expected to benefit from changing Indian demographics, Indian lifestyles and rising consumption pattern
Asset allocation:
Equity (stocks and equity related instruments likely to benefit from changing Indian demographics, Indian lifestyle, rising consumption pattern): 65%-100%
Equity (other stocks and equity related instruments): 0%-35%
Debt/ Money Market / Securitised debt: 0%-20%
Fund opened: July 2, 2007
Fund closes: July 25, 2007
Face Value: Rs 10
Investment options: Growth, Dividend with payout facility
Entry load: Nil
Exit load: Equivalent to the unamortized NFO expenses will be recovered from the investor in case of redemption before the expiry of 3 years from the date of allotment.
Minimum investment amount: Rs 5,000
Benchmark Index: S&P CNX 500
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