UTI launches debt interval fund

UTI launches debt interval fund


Mumbai: UTI Asset Management Co. (Pvt.) Ltd. has launched a debt interval fund that would invest at least 10% of the assets in debt securities and the rest in money market instruments.

UTI Fixed Income Interval Fund-Annual Interval Plan Series, open for subscription till August 13, would not charge any entry or exit load but levy a fee of 2% on redemption in periods other than specified transaction period, according to its asset manager.

The fund house has succeeded in managing assets worth approxmiately Rs425 billion at the end of July, as per data released from the Association of Mutual Funds in India .