State Bank of India is distributing Schemes of UTI Mutual Fund also. UTI Mutual Fund has come out with a New Fund Offer (NFO) called UTI India Lifestyle Fund. It will invest in companies getting benefited with changing life style of Indian Consumers.
Fund type: 3 year close ended fund. Units can be bought only during NFO at face value of Rs.10/-. Open on 2nd july 2007 and closes on 25th july 3, 2007. It is available at all the SBI branches in Kerala.
Asset allocation: sectors likely to benefit from changing Indian demographics, Indian life style & rising consumption pattern. Minimum 65% will be invested in equity and maximum 20% in debt.
Maturity: 3 years. After maturity automatically be converted to an open ended fund.
Redemption: the scheme will offer redemption/switch out of units on an ongoing basis at half-yearly intervals at NAV based prices. i.e., five business days on a half yearly basis.
Minimum investment: Rs.5000/-. Thereafter in multiples of Rs.1/-
Entry/exit load: entry load- nil, exit load – nil. (an early exit charge equivalent to unamortized NFO expenses will be recovered from the investor in case of redemption before expiry of 3 years.)
Options: growth and dividend options with dividend payout and reinvestment.
Fund manager: Mr. Anoop Bhasker
For forms and more details please contact the nearest SBI branch.
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