UTI Mutual Fund has pursued SEBI’s permission to launch UTI Mutual Fund Global Focused Growth Equity FOFs Scheme, based on information in the draft offer document on the official website of the Market Regulator.
UTI Global Focused Growth Equity Fund will invest 95 percent to 100 percent of assets in units issued by TRPF (T Rowe Price Funds) SICAV Global Focused Growth Equity Fund.
The open-ended fund of funds scheme of the UTI AMC will also invest up to 5 percent in money market securities including reverse repo, collateralized borrowing and lending obligation, and units of domestic schemes.
The UTI Global Focused Growth Equity Fund offers both Regular and Direct Plans with Growth and Dividend Options.
The minimum application amount for the open-ended FOF (fund of funds) scheme is 5,000 Rupees and in multiples of one Rupee thereafter. The exit load of the UTI Mutual Fund Global Focused Growth Equity FOFs Scheme is 1 percent if investments are redeemed after one year from the date of allocation of the plan.
UTI Asset Management Company has appointed Mr. Kamal Gada as the fund manager of the scheme. The performance benchmark of the UTI Global Focused Growth Equity Fund is MSCI All Country World Index.
The fund house has also announced September 25, 2018, as the record date for declaration of dividend for the UTI mutual fund schemes – Treasury Advantage Fund, Banking & PSU Debt Fund, Short Term Income Fund, Dynamic Bond Fund, Bond Fund, Credit Risk Fund, Ultra Short Term Fund, Gilt Fund, and Medium Term Fund, according to KJMC.
The dividend on the face value of 10 Rupees per unit has been declared for the above-mentioned schemes except for Treasury Advantage Fund and Ultra Short Term Fund, which has a face value of 1000 Rupees per unit.
UTI Mutual Fund Global Focused Growth Equity FOFs Scheme seeks the approval of the Securities and Exchange Board of India, according to SEBI’s draft offer document, reported Money Control.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]