UTI Mutual Fund has launched UTI-Thematic Fund today. The scheme is open for subscriptions from March 9, 2004 to March 25, 2004. It will re-open for sales and repurchase not later than 30 days from the closure of the initial offer.
UTI Thematic Fund is an open-ended equity scheme. The scheme comprises of six funds, each concentrating on a distinct theme - UTI - Large Cap Fund, UTI - Mid Cap Fund, UTI-Basic Industries Fund, UTI-Auto Sector Fund, UTI-Banking Sector Fund and UTI-PSU Fund.
The investment focus of each of the six funds is as follows:
UTI -Large Cap Fund: The portfolio of the fund will consist of the universe of top 50 companies in terms of market capitalisation.
UTI -Mid Cap Fund: This fund will invest primarily in mid cap stocks.
UTI- Basic Industries Fund: The portfolio of this fund will consist predominantly of companies engaged in the sectors like Metals, Building Material, Oil & Gas, Power, Chemicals, Engineering etc. The fund will invest in stocks of the companies, which form the part of Basic Industries.
UTI- Auto Sector Fund: The fund will invest in the stocks of companies engaged in the automobile and auto ancillary industry.
UTI -Banking Sector Fund: The fund will invest in the stocks of the companies / institutions engaged in the banking and financial services activities.
UTI PSU Fund: The fund will invest in the stocks of companies where the State / Central Government of India owns the majority of the holding or management control is vested with State/Central Government of India.
The minimum amount of investment under each thematic fund is Rs.5000/- and additional investment is Rs.1000. The funds would charge an entry load of 2 per cent and no exit load, after the initial offer. The schemes also offer Automatic Trigger Option and Switchover facility from one fund to another.
The benchmark of UTI-Large Cap Fund is BSE Sensex, UTI-Mid Cap Fund is CNX Midcap 200 Index, UTI-Basic Industries Fund is BSE 100 Index, UTI- Auto Sector Fund is BSE Sensex, UTI Banking Sector Fund is BSE BANKEX and UTI- PSU Fund is BSE PSU Index.
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