UTI Mutual launches debt interval fund

UTI Mutual launches debt interval fund
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First Published: Wed, Jul 11 2007. 04 50 PM IST
Updated: Wed, Jul 11 2007. 04 50 PM IST
Mumbai: UTI Asset Management Co. (P) Ltd. said on Wednesday it has launched a debt interval fund that would be open for subscription till July 18.
UTI Fixed Income Interval Fund-Annual Interval Plan-I would invest at least 10% of the assets in debt securities and the rest in money market instruments, the fund house said.
While the fund will not charge any entry load, it would levy an exit load of 2% for redemption in period other than the specified transaction period, it added.
The fund house managed assets worth about Rs 390 billion at the end of June, data from Association of Mutual Funds in India showed.
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First Published: Wed, Jul 11 2007. 04 50 PM IST