UTI Credit Opportunities is the new new open-ended debt fund launched by UTI Mutual Fund. As the name suggests, the fund manager will always look-out for higher return with comparatively higher risk. However, unlike the developed world, these type of funds in India don't take much credit risk and invest mostly in good debt papers.
Investment objective and strategy
The scheme aims to generate reasonable income and capital appreciation by investing in debt and money market instruments across different maturities and credit ratings. The fund will invest predominantly in those securities which have a AAA rating indicating the highest level of safety from credit risk point of view.
This fund comes under the Crop funds - Credit Opportunity Funds which also includes cash opportunity and income opportunity funds. The table below shows the funds under the category:
Amandeep S Chopra and Arpit Kapoor will be managing this fund.
Mr. Chopra holds a B.Sc as well as an MBA degree and has over 14 years of experience in fund management. Prior to UTI he has worked with Aaina exports Ltd as well as Stenay Ltd.
Mr. Kapoor will be the dedicated fund manage for ADR's/GDR's/Foreign Securities. Prior to joining UTI in 2009 he worked as a software engineer.
UTI is the oldest Mutual Fund Company in the country with assets of Rs. 70,783 crores under management.
NFO Open: October 25th, 2012
NFO Close: November 8th, 2012
NFO Price: Rs.10/- Per Unit
Options: Growth and Dividend (with payout and reinvestment)
Minimum Application Amount: Rs.5000/-
Exit load: 1.25% if redeemed within 365 days, 0.75% if redeemed after 365 days and before 548 days, and nil if redeemed after 548 days.
Benchmark: Crisil Composite Bond Fund Index
Fund Managers: Amandeep S Chopra and Arpit Kapoor