Mutual Funds: UTI Mutual Fund has launched two index funds- UTI Nifty 50 Equal Weight Index Fund and UTI S&P BSE Housing Index Fund. The New Fund Offer (NFO) will open for subscription on May 22, 2023 and close on June 5, 2023.
UTI Nifty 50 Equal Weight Index Fund
The investment objective of an open-ended index fund scheme is to provide returns, before expenses, that correspond to the total return of securities as represented by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
New Fund Launch Date 22-May-2023
New Fund Offer closure date 05-June-2023
Minimum application amount is 5,000 and in multiples of Rs. 1 after that.
UTI S&P BSE Housing Index Fund
The investment objective of an open-ended index fund scheme is to provide returns, before expenses, that correspond to the total return of securities as represented by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
New Fund Launch Date 22-May-2023
New Fund Offer closure date 05-June-2023
Minimum application amount is 5,000 and in multiples of Rs. 1 after that.
In other news, capital market regulator sebi To bring transparency in the expenses charged to unit holders, a uniform total expense ratio (TER) has been proposed across mutual fund schemes. Currently, SEBI allows asset management companies to charge unitholders mutual funds Four additional types of expenditure over and above the specified TER limits. These are brokerage and transaction costs, additional TER for delivery commission coming from B-30 (beyond top 30) cities, goods and services tax, and exit load.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.