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UTI Mutual Fund: Changes in STRIP Facility

UTI Mutual Fund has announced a change in the terms and conditions of Systematic Transfer Investment Plan (STRIP). Earlier, the minimum numbers of STRIP were 20 under daily periodicity, 24 under weekly periodicity, 12 under monthly periodicity and 4 under quarterly periodicity.
Now, the minimum number of periodicity will be 6 under Monthly periodicity and 2 under quarterly periodicity, rest remains the same. There will be no upper limit. If the minimum number is not mentioned, then by default, the transaction would be continued till the amount in the source scheme gets exhausted.