MUMBAI:
UTI Mutual Fund (UTI) launches a new open ended debt scheme – “UTI Corporate Bond Fund” which will predominantly invest in highest rated and AA+ rated corporate bonds. ”. The New Fund Offer has opened on July 23, 2018 and will close on August 8, 2018.
The investment objective of the scheme is to generate optimal returns by investing predominantly in AA+ and above rated corporate bonds. However there can be no assurance that the investment objective of the scheme will be realised. The scheme does not guarantee / indicate any returns.
Sudhir Agrawal and Sunil Patil are the Fund Managers of the scheme. On the occasion, Sudhir Agrawal said,” The scheme aims to generate optimal returns with low risk and high liquidity by investing at least 80% in a portfolio of high quality bonds. The scheme will be adopting a buy and hold investment style wherein investments would be made in corporate bonds with a maturity of 3 to 4 years to generate accrual income.”
Suraj Kaeley, Group President (Sales and Marketing), UTI AMC said, “Investors will be able to reap benefit of tax efficient returns and liquidity, along with the possibility to lock in yields prevalent at the time of investment.”
Salient Features of UTI Corporate Bond Fund
Eligible Investors:
The scheme is open to resident individuals, non-resident Indians, Institutions, Banks, eligible trusts, financial institution, Foreign Portfolio Investor (FPI) etc.
New Fund Offer Price:
During the NFO period, the units of the scheme will be sold at face value i.e. Rs.10/-per unit
