UTI MF spreads its wings to Bahrain

Dubai, Jun 13 (UNI) UTI Mutual Fund has launched in Bahrain a new market-neutral fund, UTI SPrEAD Fund.

It offers investors returns unaffected by the rise or fall of equity markets, said UTI Bahrain country head Mudit Mathur.

The fund offer, which opened on Friday and closes on June 22, will re-open for continuous purchase and redemption during the interval periods on July 6.

The investment objective is to provide capital appreciation and dividend distribution through arbitrage opportunities arising out of price differences between the cash and derivative market by investing predominantly in equity and equity-related securities, derivatives and the balance portion in debt securities, Gulf Daily News reported quoting Mathur as saying.

UTI-SPrEAD Fund is an open-ended equity fund investing in a mix of equity, equity derivatives, debt and money market instruments.

UNI XC DKS HT1612