UTI Mutual Fund has preponed the closing date of new fund-offering (NFO) period of UTI - Fixed Maturity Plan Quarterly Series (QFMP 07/08-I) which is opened for sale from 1 July 2008, will now close on 03 July 2008 instead of 15 July 2008. UTI - Fixed Maturity Plan Quarterly Series (QFMP 07/08-I) is close-ended umbrella income fund. The scheme seeks to generate regular income through investment in debt and money market instrument and government securities with suitable maturity.
The primary investment objective of the scheme is to seek regular returns by investing in portfolio of fixed income securities normally maturing in line with the time profile of the plan, thereby enabling the investors to nearly eliminate interest rate risk by remaining invested in the plan till the maturity.
The scheme will charge 1% of the NAV as an exit load if redeemed on or before 90 days from the date of closure of the offer of the plan and no load will be charged thereafter.
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