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UTI mutual raises stock exposure limit in hybrid fund

UTI mutual raises stock exposure limit in hybrid fund
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First Published: Wed, Jul 04 2007. 06 48 PM IST
Mumbai: UTI Asset Management Co. (P) Ltd. said on Wednesday (4 July) it will alter the asset allocation pattern of UTI-Monthly Income Scheme, allowing it to invest more in stocks.
The asset manager said it would raise the maximum permissible exposure to equities to 15% of the assets from 10% with effect from 3 August.
Investors not keen on the change can redeem their investment without exit load.
The fund house managed assets worth about Rs390 billion at the end of June, data from Association of Mutual Funds in India showed.
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First Published: Wed, Jul 04 2007. 06 48 PM IST