UTI MF garners Rs 409 crore through its 90 days plan

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Updated: 06/09/2008 | 12:00 AM IST

Mutual fund

Capital Market

Saturday, September 06, 2008 (New Delhi)

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UTI Mutual fund has collected Rs 409 crore via UTI Short Term Fixed Maturity Plan -Series I-VI (91days) during its new fund offer period of 22 August 26 August 2008.

This is a close-ended income scheme with plan tenure of 91 days with an investment objective to generate regular returns by investing in portfolio of fixed income securities normally maturing in line with the maturity period of the plan.

The scheme offers investors growth and dividend options.

The scheme will have investment up to 90% in debt including securitised debt and 10-100% in money market instruments. The plan may invest up to 100% of its debt portfolio in securitised debt.

The fund will ask 1% as an exit load for redemption before maturity.

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