UTI mutual launches quarterly debt interval fund

UTI mutual launches quarterly debt interval fund
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First Published: Tue, Aug 14 2007. 10 42 AM IST
Updated: Tue, Aug 14 2007. 10 42 AM IST
By Reuters
Mumbai: UTI Asset Management Co. (Pvt.) Ltd said on 14 August, it has launched a debt interval fund that would offer subscription and redemption facility without any load once every quarter.
UTI Fixed Interval Fund-Quarterly Interval Plan-III, open for subscription till 22 August, would invest in debt and money market instruments, the fund house said.
The fund will not charge any entry or exit loads but levy a fee of 1% for redemptions in periods other than the specified transaction period.
The fund house managed assets worth about Rs425 billion at the end of July, data from Association of Mutual Funds in India showed.
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First Published: Tue, Aug 14 2007. 10 42 AM IST
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