UTI Mutual Fund launches Banking & PSU Debt Fund

UTI Mutual Fund (UTI) today announced Banking & PSU Debt Fund, an open ended income scheme with no assured returns.

The scheme closes on January 30. It will re-open for continuous purchase and redemption from February 6, the company said.

The investment objective of the scheme is to generate steady and reasonable income, with low risk and high level of liquidity from a portfolio of predominantly debt and money market securities by Banks and Public Sector Undertakings.

Sudhir Agarwal, Fund Manager, said, "The scheme will primarily invest in securities rated AAA/A1+. The portfolio will be actively managed with relative lower risk and volatility and will capitalise on the spreads available at the shorter end of the yield curve. Portfolio duration is likely to be maintained between 12 to 18 months."

EDITORIAL OF THE DAY

  • HDFC Bank has triggered market competition by lowering base rate

    Even nine months after the Reserve Bank of India (RBI) changed its monetary stance and started reducing key policy rates, both public and private sect

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

Startups to bring change for good

It is a widely held belief that our new generation ...

Rajgopal Nidamboor

The quest for the greater self

All of us have our own outlook, or view, of ...

Dharmendra Khandal

Elephants are killed for those ivory bangles

Wildlife lovers always curse China for making products out of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture