UTI MF commences 18 months plan

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NET PROFIT AT $455 MN VS LOSS OF $24.6 BN (YOY)
TOTAL REVENUES AT $26.05 BN VS $898 MN (YOY)
MUTUAL FUNDS NET BUY RS.34.3 CR IN EQUITIES ON NOVEMBER 5
FOREIGN FUNDS NET BUY RS.267.6 CR ($56.8 MN) IN EQUITIES ON NOVEMBER 5
OVER 7% GROWTH ACHIEVABLE IN FY'11
TO EXPLORE STIMULUS EXIT MODE NOW; WINDING DOWN STIMULUS TO CUT DEFICIT
SENSEX UP 1.65%, NIFTY UP 1.8% FOR THE WEEK
CNX MIDCAP INDEX UP 3.9%, BSE SMALLCAP INDEX UP 1.6%
BSE PSU INDEX UP 4.77%, REALTY UP 4.4%, METAL INDEX UP 4%
INDEX GAINERS: BHARTI UP 9.4%, JP ASSOCIATES UP 8.6%, IDFC UP 7%
GETS U.S. FDA NOD FOR GENERIC ACULAR
TO RAISE UPTO $300 MN VIA FCCBS
EXTENDING 8% HOME LOAN SCHEME TILL 31ST MARCH , 2010
INDIAN RAILWAYS SHOULD RATIONALISE PASSENGER FARES UPWARD
TO RAILWAYS: STOP CROSS SUBSIDISING FARES AND FREIGHTS
IMPOSES 20% SAFEGUARD DUTY ON IMPORT OF SODA ASH
ROAD DEFICIT REMAINS THE GREATEST PROBLEM IN INFRASTRUCTURE IN INDIA
INDIA MAY TAKE TWO YEARS TO GET BACK TO 9% GROWTH
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
JET AIRWAYS RAISES FUEL SURCHARGE BY RS.200 ON SECTORS MORE THAN 1000 KM
DOW JONES UP 0.17%, NASDAQ UP 0.34%, S&P 500 UP 0.25%
IN TALKS TO BUY CONTROLLING STAKE IN SUNIL HITECH: NW
E&Y ADVISORS FOR THE SUNIL HITECH BUY: NW
INDIABULLS OPEN OFFER LIKELY TO SUNIL HITECH SHAREHOLDERS: NW
BHARTI HAS NOT SCALED DOWN ITS RETAIL PLANS
HOPES INDIA 3G AUCTION HAPPENS EARLY
WORRIED ABOUT DELAY IN AUCTION OF 3G SPECTRUM
AIM TO HAVE 2 LARGE MILLS WITH 100 MT CAPACITY; TO CLOSE SMALLER ONES
10 LARGEST STEEL MILLS TO ACCOUNT FOR 75% OF STEEL OUTPUT
TO MERGE STEEL MAKERS TO CREATE RIVALS FOR ARCELORMITTAL

Updated: 01/10/2008 | 12:00 AM IST

Mutual fund

Capital Market

Wednesday, October 01, 2008 (New Delhi)

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UTI Mutual fund has opened initial offer of UTI Fixed Term Income Fund Series V-V on 1 October 2008. The new fund offer period will remain open for fresh subscription till 15 October 2008. The new offer price of units is Rs 10 per unit. The date of allotment will be 15 October 2008. The 18 months plan will open for redemption on 16 October 2008, which will mature on 15 April 2010.

It is a close-ended income scheme 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 retail, institutional and super institutional plan with growth and dividend options. The minimum application amount for retail option under dividend sub option is Rs 10,000 and under growth sub option is Rs 5,000 and in multiples of Re 1 thereafter. The minimum application amount under institutional option is Rs 50 lakh and in multiples of Re 1 thereafter. Under super institutional plan, the minimum investment amount is Rs 1 crore and in multiples of Re 1 thereafter.

The scheme will invest up to 5-100% in debt including securitised debt and 0-95% in money market instruments. The scheme may endow up to 100% in the securitised debt.

As the scheme is of close-ended nature, it is not applicable to entry load. The fund will ask 3% as an exit load for redemption before maturity.

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