"UTI-Wealth Builder Fund"-a Close-ended Scheme

Nagpur, sept 25 (uni) UTI Mutual Fund today announced the launch of a new scheme "UTI-Wealth Builder Fund" Which closes on October 11, 2006 and Units can be purchased only during the new fund offer from September 7, 2006 to October 11,2006.

UTI-Wealth Builder Fund is a close-ended equity scheme with a maturity period upto 5 years with automatic conversion into an open-ended scheme upon maturity of the scheme.

The objective of the scheme is to achieve long term capital appreciation by investing predominantly in a diversified portfolio of equity related instruments. The scheme will invest in equity and equity related instruments to extent of 65-100 per cent and 0-35 per cent in debt and money market instruments.

Mr Arvind mittal, regional sales head-west, UTI AMC while addressing a press conference, said,''UTI MF always endeavours to provide new wealth creation opportunities to its investors. Apart from being a 5 year close ended equity scheme, it will also utilise derivatives to hedge the portfolio and the extednt to which the portfolio will be hedged will be linked to index levels.'' ''To safisfy the needs of investors who think long term, UTI Mutual Fund is expanding its product suite. The new scheme aims to build and maintain a diversified portfolio of equity stocks that has the potential to appreciate in the long run,'' he added.

Some of the salient features of the UTI-Wealth Builder Fund are that the fund is open to resident individuals, institutions as well as to NRIs and FIIs with the face value of units is Rs 10/- purchase price. The units can be purchased only during the new fund offer period, the units will be sold at face value of Rs 10/-per unit.

Maturity of the scheme is 5 years from the date of allotment.

Upon maturity the scheme will automatically be converted into as oper-ended scheme.

UNI NNG PM VKG1655