UTI Mutual Fund has filed offer document with SEBI to launch an open ended income scheme as “UTI - Fixed Investment Plan”. The New Fund Offer price is Rs 10 per unit. Entry load will be Nil and Exit Load will be 1.00% for plans with maturity period less than or equal to 1096 Days, and Nil for the scheme for plans with maturity period of 1096 Days. The scheme offers Growth & Dividend Option and seeks to collect a Minimum Target Amount of Rs 20 Crores.
The scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The minimum application amount is Rs 5,000 and in multiples of Rs1 thereafter.
The investment objective of the scheme is to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of short term debt & money market securities.