Publish Date:
UTI Mutual Fund introduces – UTI Innovation Fund
It is an open-ended equity scheme following innovation theme.
Accordingly, the scheme intends to provide medium to long-term capital appreciation through investment primarily in growth and innovation-oriented equity and equity-related instruments. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.
Under normal circumstances, UTI Innovation Fund will hold an allocation of 80% to 100% of its assets in equity & equity related instruments following growth and innovation-oriented theme and 0% to 20% in Debt and Money Market instruments.
As per the Scheme Information Document, UTI Innovation Fund is a thematic scheme and endeavours to provide long-term capital appreciation through investment primarily in growth and innovation-oriented equity and equity-related securities.
The scheme will not follow the benchmark and will be actively managed. The fund manager will predominantly follow a bottom-up approach to seek but not be limited to companies that exhibit strong TID (Technology, Innovation, and Disruption) characteristics. The scheme may invest in debt and money market instruments in accordance with the asset allocation of the scheme, subject to regulations, generally to meet the liquidity requirements of the scheme.
UTI Innovation Fund performance will be benchmarked against Nifty 500 TRI
The scheme will be managed by Mr Ankit Agarwal and Mr Deepesh Agarwal (for Overseas investments).
The NFO opens for subscription on September 25, 2023 and closes on October 09, 2023. The schemes will reopen for continuous sale and repurchase within 5 business days from date of allotment.
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal (IDCW) options.