UTI AMC seeks approval from SEBI (Securities and Exchange Board of India) to launch its 10-year Gilt Mutual Funds In India, according to the draft offer document available on the Market Regulator’s website.
The UTI Gilt Fund, a 10-year constant maturity open-ended debt scheme, will deploy at least 80 percent of its assets in Centre or state governments’ securities or in any security that is completely guaranteed by the Centre or state governments.
The UTI Mutual Fund scheme can also invest up to 20 percent of its assets in collateralized borrowing and lending obligation, repo, reverse repo, and related securities.
The 10-year Gilt scheme of UTI MF offers both Regular and Direct plans with Growth and Dividend options, with no exit load charges.
The minimum application amount for the first installment of the UTI Gilt Mutual Funds In India is 5,000 Rupees and in multiples of one Rupee thereafter.
The performance of the UTI Gilt Fund is benchmarked against the CRISIL 10 Year Gilt Index.
In July 2018, UTI AMC introduced a new open-ended debt scheme called UTI Corporate Bond Fund which opened for subscription from July 23, 2018, to August 8, 2018.
The UTI Corporate Bond Fund scheme will invest about 80 percent to 100 percent of its assets allotted for the fund in Corporate debt rated AA+ and highest rated instruments including securitized debt instruments. The scheme will further invest about 20 percent in money market instruments and Corporate debt instruments (other than securitized debt), and about 10 percent in REITs & InvITs units.
Sudhir Agrawal and Sunil Patil are assigned as the fund managers of the UTI Corporate Bond Fund, based on a report from The Economic Times.
Sudhir Agrawal is designated as the Fund Manager of the 10-year constant maturity UTI Gilt Fund scheme, reported Money Control.
The main objective of the new UTI Gilt Mutual Funds In India is to generate risk-free returns for investors by mainly investing in government instruments with a constant maturity of 10 years, according to Paisa Bazaar.
The post UTI AMC Pursues SEBI Nod For 10-Year Gilt Mutual Funds In India appeared first on OWLT Market.
from OWLT Market https://ift.tt/2KSXqrf
via IFTTThttps://ift.tt/2OlCCL9
No comments:
Post a Comment