BackUTI Mutual Fund launches ‘UTI Innovation Fund’: Nine things to know
UTI Mutual Fund launches UTI Innovation Fund, an open-ended equity scheme focused on innovation and growth. NFO starts on September 25, 2023
PremiumUTI Mutual Fund (UTI) launched UTI Innovation Fund, an open-ended equity scheme following the innovation theme to bring the next generation edge to investor’s portfolios. The Fund would follow a bottom-up approach for investing in innovation-oriented businesses and disruptors with the potential for non-linear growth outcomes. “UTI Innovation Fund marks a significant step forward for investors in navigating the ever-growing landscape of investment opportunities. It is a unique portfolio that is true-to-label, investing predominantly in innovative businesses and disruptors. In an era of rapid technological advancements and evolving market dynamics, it's an opportunity to embrace innovation, adapt to market dynamics, and participate in potential wealth generators that could grow in a non-linear fashion," said Ankit Agarwal, Fund Manager, UTI AMC.
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Key things to know about ‘UTI Innovation Fund’
1)The NFO starts on September 25, 2023 and closes on October 9, 2023.
2)The investment strategy of the fund focuses on 3 pillars vis., Innovation: Companies using innovation to enhance productivity or improve environmental/social impact; Growth: Companies with significant growth potential, demonstrated track record of developing the market and/or gaining market share; Quality: Financially strong companies with market leadership, robust business models, quality management & corporate governance.
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3)The Fund aims to invest in potential investment opportunities such as, but not limited to, e-commerce, software, fintech, specialty chemicals, clean tech, healthcare, food tech, digital ad companies etc.
4) The Fund would have a higher active share due to the focus on innovation, however, follows a robust risk-assessment framework that aims to manage portfolio risks – concentration and disruption.
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5)Salient features of the UTI Innovation Fund
-Suitable for Investors looking for a true-to-label innovation fund that is benchmark agnostic and backed by research expertise
-Investors seeking relatively high growth potential and willing to ride the underlying waves of innovation
-Investors may invest through lump sum or staggered (SIP/ STP) allocation and with a long-term horizon
6)Fund Manager
Mr. Ankit Agarwal
7)Minimum Application Amount
-Initial Purchase: ₹ 5,000 and in multiples of ₹ 1
-Additional Purchase: ₹ 1,000 and in multiples of ₹ 1/-
8)Load Structure
Entry Load: Nil
Exit Load: 1% if redeemed/switched out within 12 months from the date of allotment, Nil thereafter.
9) Benchmark Index
Nifty 500 TRI
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