UTI Mutual Fund launches 2 products in Kerala

Kochi, Jan 6: UTI Mutual Fund launched two new products -- UTI- Capital Protection Oriented Scheme and UTI-Long Term Advantage Fund here.

Speaking to reporters last evening, Senior Vice President S Ganesh said the Capital Protection Oriented Scheme was a close-ended scheme with three and five-year plans.

He said the new fund offer (NFO) for the scheme would be open till January 25 and the units have a face value of Rs 10.

The orientation of the scheme was towards protection of capital which originates from the portfolio structure of the scheme, he added.

The Long Term Advantage Fund was a ten-year close-ended equity linked savings scheme with a redemption facility after an initial lock-in-period of three years from the date of allotment at relevant redemption price, Mr Ganesh said.

The units with a face value of Rs 10 would be available till March 20.

He said the objective of the scheme was to provide medium to long term capital appreciation along with income tax benefit.

UNI