UTI Mutual Fund is launching NFO under its “index fund category”, named as UTI Nifty50 Equal Weight Index Fund. This open-ended scheme aims to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error.
Investment strategy: The scheme is a low-cost index Fund which tracks the Nifty50 Equal Weight Index passively. The scheme endeavors to achieve return equivalent to underlying index while minimizing tracking error.
Asset allocation: The Scheme would invest in Securities covered by Nifty50 Equal Weight Index and debt and money market instruments.
Who should invest?
Investors with very high risk appetite and want to invest for 5 to 7 years in an index mutual fund should invest in UTI Nifty50 Equal Weight Index Fund.
Risk associated: Very high level of risk.
Benchmark: Nifty50 Equal Weight Index.
Fund Managers: Mr. Sharwan Kumar Goyal, Mr. Ayush Jain.
The NFO is available for subscription from May 22 to June 5. The scheme will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 5000/- and in multiples of any amount thereafter.
It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in UTI Nifty50 Equal Weight Index Fund.
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