UTI MF launches UTI-Infrastructure Advantage Fund
Ahmedabad, Nov 16 (UNI) UTI Mutual Fund announced the launch of a new scheme 'UTI-Infrastructure Advantage Fund-Series I' here today which closes on December 19.
Addressing mediapersons, UTI-AMC Fund Manager Gautami Desai said that the scheme is a three-year close-ended equity scheme with an investment objective in equity/equity related instruments of companies engaged either directly or indirectly in the infrastructure growth of the Indian economy.
The scheme aims to build and maintain a diversified portfolio of equity stocks within the infrastructure theme that can appreciate in the long run, Ms Desai said and added that the scheme will invest in sectors that include construction, energy, engineering, metals, power, telecom, transportation, airports, and others.
Ms Desai said that the minimum investment is Rs 5,000 and in multiples of Re 1 thereof, without any upper limit. Redemption is possible only after six months from the closure of the New Fund Offer and thereafter on an ongoing basis at NAV-based prices on every business day.
Speaking
on
the
occasion,
UTI-AMC
PSU
Clients
Head
N
Narayanan
said,
''Infrastructure
sector
plays
an
important
role
in
the
country's
development
and
GDP
growth.
The
importance
of
infrastructure
for
India's
sustained
economic
development
is
well
recognised
today.
Investment
in
infrastructure
has
gained
momentum
in
the
last
few
years
and
is
experiencing
a
rapid
growth
across
different
sub-sectors.''
UNI