UTI-Leadership Equity Fund

UTI Mutual Fund has launched yet another equity-oriented scheme. Named as UTI-Leadership Equity Fund, the scheme would be open for initial subscription between January 9 and January 30, 2006. It will re-open for continuous purchase and redemption from February 28, 2006 onwards. The scheme would benchmark its performance against S& P CNX Nifty Index. UTI-Leadership Equity Fund aims to invest in stocks that are existing leaders or potential leaders in their respective industries/sectors/sub-sector. The scheme will invest at least 65 per cent of its assets in the top five leading companies of an industry/sector/sub-sector in terms of sales turnover or market share or market capitalisation. It will also invest up to 35 per cent in companies that are potential leaders in order to profit from the probable upside potential in the stock of these companies. The scheme would charge an entry load of 2.25 per cent for investments below Rs 2 crore. It would charge an exit load of 0.50 per cent for investments greater than or equal to Rs 2 crore, if redeemed within 6 months from the date of allotment.