Effective August 16, 2010, UTI Mutual Fund has announced the conversion of UTI India Lifestyle Fund into an open ended scheme. The features of the scheme are as follows:
Mr. Harsha Upadhyay will be the fund manager for domestic market and Mr. Kaushik Basu will the dedicated fund manager for ADRs/GDRs/Foreign Securities. The scheme will charge an exit load of 1% redeemed before 1 year from the date of allotment.
Automatic Trigger, SIP and STRIP facility will be introduced in the scheme and online transaction facility through NSE and BSE has been available for the investors.