UTI Mutual Fund Announces Various Changes

UTI Mutual Fund has announced changes in features for institutional plan under UTI Floating Rate Fund Short Term Plan, with effect from 20 July 2009. Revised Features, Minimum Amount of Initial Investment: Minimum investment under the institutional plan is Rs 50 lakh and in multiples of Rs 1 thereafter or such amount as may be decided from time to time.

Options & Sub-option offered under Weekly Dividend Option of Institutional Plan: Weekly dividend option will have two sub options namely dividend payout and dividend reinvestment.

Under the dividend reinvestment sub option, dividend declared would be re-invested in the fund by way of allotment of additional units at the prevailing ex-dividend NAV per unit.

Existing Features: Minimum Amount of Initial Investment: Minimum investment under the institutional plan is Rs 1 crore and in multiples of Rs 1 thereafter or such amount as may be decided from time to time.

Options & Sub-option offered under Weekly Dividend Option of Institutional Plan: The dividend under the weekly dividend option would be compulsorily re-invested in the fund by way of allotment of additional units at the prevailing ex-dividend NAV per unit.

UTI Floating Rate Fund is an open-ended income scheme, which has the objective to generate regular income through investment in a portfolio comprising substantially of floating rate debt/money market instruments, fixed rate debt/money market instruments swapped for floating rate returns.