UTI MF introduces institutional plan under UTI MMF

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Updated: 09/07/2009 | 12:00 AM IST

Mutual fund

Capital Market

Thursday, July 09, 2009 (New Delhi)

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UTI Mutual Fund has introduced new institutional plan under UTI Money Market Fund (MMF) with effect from 6 July 2009. Features of institutional plan are:

Minimum amount of initial investment: Rs 50 lac and in multiples of Rs 1 thereafter.

Entry load: Nil

Exit load: Nil

Options and sub-options: Growth and dividend option (daily and weekly sub-option).

However where the application amount is less than the minimum amount specified above, default plan will be the regular plan and default option will be the growth option.

UTI Money Market Fund is an open-ended pure debt liquid plan, seeking to provide highest possible current income, by investing in a diversified portfolio of short-term money market securities.

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