UTI Mutual Fund makes one more addition in its fund's list with the launch of a new debt fund called UTI Investment Bond Fund Plan 60 (60 months plan). It is a close ended income fund, comprising of four series. This is the first series being launched by the AMC and is open for subscription from November 26, 2007 to December 31, 2007.
The scheme aims to generate regular returns by investing in a portfolio of fixed income securities normally maturing in line with the maturity period of the respective plans. It would invest 70 to 100 per cent in debt and money market instruments and upto 30 per cent in equity and equity linked instruments.
Snapshot
Face Value: Rs. 10
Plans: Retail and Institutional
Options: Dividend (payout and reinvestment) and Growth
Minimum Investment
Retail: Rs. 5000 for the growth option and Rs. 10000 for the dividend option
Institutional: Rs.1 crore
Benchmark Index: Crisil MIP Blended Index
Fund Manager: Deb Bhattacharya
Load Structure: The plan would offer redemption facility on a half-yearly basis after the closure of the issue. The investor may redeem the units on the stipulated date (based on the date of the closure of the issue).
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