UTI launches Focussed Equity Fund Series-V Fund
UTI Mutual Fund on Friday announced the launch of UTI Focussed Equity Fund (FEF) Series-V (1102 days), a close-ended fund through which the company looks to mop up Rs 500 crore.
Hyderabad: UTI Mutual Fund on Friday announced the launch of UTI Focussed Equity Fund (FEF) Series-V (1102 days), a close-ended fund through which the company looks to mop up Rs 500 crore.
This new fund offer (NFO) opens for subscription on November 20 and closes on December 4, with minimum investment amount being Rs 5,000. There is no upper limit on the investment. The fund, which is benchmarked against BSE 200 Index, will invest in a compact portfolio of up to 30 stocks. It will broadly focus on banking, pharmaceutical, logistics and consumer goods sectors.
“The primary objective of this scheme is to generate long term capital appreciation by investing predominantly in equity and equity related securities of listed companies.
The scheme will, without any capitalisation bias – endeavour to invest in either growth stocks or value stocks or both,” V Srivatsa, Executive Vice President and Fund Manager (Equity), UTI Mutual Fund, told the media here. The scheme offers good returns on three-year perspective, he added.
He further said that the portfolio stocks would be selected from a bouquet of 345 fundamentally-strong stocks put together by the research team of UTI Mutual Fund. “We have a strong research team which selected these stocks,” Srivatsa said.