UTI Mutual Fund has decided to merge its six schemes by the next month. All the six schemes will be merged on different dates:
UTI PSU Fund and UTI Large Cap Fund will be merged into UTI Index Select Fund on 11th April 2007. Investors has been given an option to exit from the scheme between March 13, 2007 and April 11, 2007.
Secondly, UTI Brand Value Fund will be merged into UTI MNC Fund on 13th April 2007. And the unit holders not willing to continue can exit the scheme between March 15, 2007 and April 13, 2007.
Lastly, UTI Growth & Value Fund, UTI Dynamic Equity Fund and UTI India Advantage Equity Fund are going to be merged with UTI Mid Cap Fund on 19th April, 2007. The investors can exit the scheme between March 21, 2007 and April 19, 2007.