Draft offer documents of the following Mutual fund schemes are submitted to SEBI for approval and are now put on SEBI website for public view and commenting:
UTI - Fixed Term Income Fund - Series VI
Add commentNovember 6th, 2008
Draft offer documents for the following mutual fund schemes are submitted and are put for public view and commenting:
Birla Sun Life Equity Linked FMP - Series I-M
ING Annual FMP Fund
JP Morgan India Tax Advantage Fund
UTI Short Term FMP - Series II
Add commentSeptember 11th, 2008
UTI Mutual Fund has announced a dividend of 15% in UTI Pharma & Healthcare Fund. The record date for the dividend is August 26, 2008.
The fund has earlier recorded three dividends -
20% in October 2003
25% in Octover 2004
25% in January 2006
The Investment objective of the fund is “An open-ended fund which exclusively invests in the equities of the Pharma & Healthcare sector companies. This fund is one of the growth sector funds aiming to invest in companies engaged in business of manufacturing and marketing of bulk drug, formulations and healthcare products and services.”
The fund size is Rs. 57.99 Crores and had Sun Pharma, Ranbaxy, Cipla, Glenmark, Glaxosmithkline, Indoco Remedies, Dr Reddys, Divis, Cadila, Lupin as the top held shares. (as of July 31, 2008)
In terms of performance amongst Pharma Mutal Funds, this fund stands second next to JM Healthcare Sector fund and is far better than its other peers Franklin Pharama, Reliance Pharma and SBI Magnum Pharma.
Add commentAugust 21st, 2008
UTI SPrEAD Fund from UTI Mutual Fund announced a dividend of 8%. This is the first dividend announcement from the fund scheme.
The scheme’s inception date is 22 June 2006 and comes into Open Ended Equity Oriented Scheme category. Mr. Harsha Upadhyaya is the fund manager of the scheme.
The objectives of the scheme are: “The investment objective of the scheme 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 & equity related securities, derivatives and the balance portion in debt securities. However, there can be no assurance that the investment objective of the scheme will be realised.”
The Asset Allocaiton of the scheme is as follows: ” Equity: 65-90%, derivatives 65-90%, money market & debt instruments 10-35%”
UTI SPrEAD Fund has Rs. 429.51 Crores as AUM (as of Jan 31, 2008). Its NAV is 11.478 (as of Feb 14, 2008)
Top holdings of the fund include Vijaya Bank, Allahabad Bank, Axis Bank, Sesa Goa and Union Bank of India.
The minimum investment in the scheme is Rs. 5000. There is no entry load into the scheme. Exit Load is 0.75% For < Rs.2 Crores; 0.50% For > = Rs.2 Crores (Effective from 15-Nov-2005). M/s. Karvy Computershare Pvt. Ltd. is the Registrar for this fund.
Add commentFebruary 15th, 2008
The UTI Infrastructure Advantage Fund which is in NFO period will be accepting the NFO applications from investors till December 24, 2007. The earlier deadline for this fund is December 19, 2007.
The scheme is a 3 year close-ended equity scheme. The investment objective of the scheme is to provide income distribution and/ or medium to long term “capital appreciation” by investing predominantly in equity / equity related instruments in the companies engaged either directly or indirectly in the infrastructure growth of the Indian economy.
Normally the scheme would put 65% - 100% of the portfolio in equities of companies engaged either directly or indirectly in the infrastructure sector.
Options Available: (i) Growth Option and (ii) Dividend Option with Payout facility.
Offer Price: The units can be purchased at the face value of Rs 10/- per unit during the New Fund Offer period only.
Minimum Investment Amount: Minimum initial investment is Rs. 5,000/- and in multiples of Re.1/- thereafter without any upper limit.
Load Structure:
Entry Load: The scheme being a close- ended scheme, is not permitted to charge an entry load.
Exit Load: NIL. However, an early exit charge equivalent to the unamortized New Fund Offer expenses will be recovered from the investor in case of redemption before expiry of 3 years from the date of allotment. The trustee reserves the right to change the load structure any time on a prospective basis.
3 commentsDecember 21st, 2007
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