The New Fund Offer opens on February 26, 2019 and will close on March 1, 2019.
UTI Mutual Fund (UTI) launches a new open ended scheme replicating/tracking the S&P BSE Sensex Next 50 Index, -‘UTI S&P BSE Sensex Next 50 Exchange Traded Fund’. The New Fund Offer opens on February 26, 2019 and will close on March 1, 2019.
The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error. However there is no guarantee or assurance that the investment objective of the scheme will be achieved.
Kaushik Basu and Sharwan Kumar Goyal are the Fund Managers of the scheme.
Kaushik Basu, said ,“The scheme will be passively managed by providing exposure to S&P BSE Sensex Next 50 Index and tracking its performance and yield before expenses, as closely as possible. “
Salient Features of UTI S&P BSE Sensex Next 50 Exchange Traded Fund
• Eligible Investors:
The scheme is open to resident individuals, non-resident Indians, Institutions, Banks, eligible trusts, financial institution, Foreign Portfolio Investor (FPI) etc.
• New Fund Offer Price:
• During the NFO period, the units of the scheme will be sold at face value i.e. Rs.10/-per unit
• Asset Allocation:
• Minimum Application Amount: Rs.5,000/- and in multiples of Rs.1/- thereafter.
• Load Structure
Entry Load (As % of NAV): Not Applicable
Exit Load(As % of NAV) : Not Applicable
• Benchmark Index: S&P BSE Sensex Next 50 Index
About UTI Mutual Fund
UTI Mutual Fund is a SEBI registered mutual fund whose Sponsors are State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
UTI Mutual Fund is one of the largest mutual funds in India with investor accounts of over 1 crore under its 188 domestic schemes / plans as on January 31, 2019.
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