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UTI mutual launches 18-month fixed-term debt fund

UTI mutual launches 18-month fixed-term debt fund
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First Published: Mon, Oct 08 2007. 01 25 PM IST
Updated: Mon, Oct 08 2007. 01 25 PM IST
By Reuters
Mumbai: UTI Asset Management Co Pvt Ltd on 8 October launched a close-end fixed-term debt fund that will mature in 18 months.
UTI Fixed Term Income Fund-Series III-Plan 18, open for subscription till 15 October, will invest in debt and money market instruments, the fund house said.
It will not charge an entry load but levy an exit load of 3% or recover unamortised expenses, whichever is higher, for redemptions before maturity. The fund house managed assets worth about Rs450 billion at the end of September, data from the Association of Mutual Funds in India showed.
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First Published: Mon, Oct 08 2007. 01 25 PM IST
More Topics: Fund | UTI | Debt | Money | Market |