UTI Mutual Fund introduces Floater Fund

UTI Mutual Fund has launched the UTI-Floater Fund, an open ended debt scheme. The NFO scheme opens for subscription on October 12, 2018 and closes on October 26, 2018. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiple of Rs 1.

The scheme’s performance will be benchmarked against CRISIL Ultra Short Term Bond Index and its fund managers are Amandeep Chopra and Sudhir Agrawal.

The investment objective of the scheme is to generate reasonable returns and reduce interest rate risk by investing in a portfolio comprising predominantly of floating rate instruments and fixed rate instruments swapped for floating rate returns. The Scheme may also invest a portion of its net assets in fixed rate debt securities and money market instruments.