UTI Mutual Fund has filed offer document with SEBI to launch a close-ended hybrid scheme as “UTI-Dual Advantage Fixed Term Fund - Series V”. The New Fund Offer price is Rs 10 per unit. Entry load and Exit Load will be Nil for the scheme. The scheme offers Growth & Dividend Payout Option and seeks to collect a Minimum Target Amount of Rs 20 crore.
The scheme will be benchmarked against CRISIL MIP Blended Index. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter.
The investment objective of the Scheme is to generate income and reduce interest rate volatility by investing in fixed income securities that are maturing on or before the date of maturity of the Scheme and generate capital appreciation by investing in equity and equity related instruments.