Widely read:
UTI Mutual Fund has announced the merger of UTI Variable Investment Scheme- ILP into UTI Balanced Fund.
Post-merger following changes will come into effect:
1. The option chosen by you (Growth or Dividend) will remain same in the merged scheme.
2. The merger of UTI Variable Investment Scheme-ILP into UTI Balanced Fund would result in no change to your wealth as an investor to the date of merger. The UTI Variable Investment Scheme- ILP investors will be allotted units of UTI Balanced Fund as per the applicable NAV.
3. On merger of the two funds, the features of UTI Balanced Fund would be applicable to UTI Variable Investment Scheme- ILP.
Investors who want to continue can do so without doing anything. However investors who want to exit from the scheme, can redeem their units from March 1, 2011 to March 30, 2011 without paying any exit load.
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