AAAAAAAAAAAAAAAAAAAAAAAAAAA

NT Bureau
Chennai, July 3:
 

A K Sridhar, chief investment officer, UTI Asset Management Company, briefing mediapersons on the new fund offer. Also seen is M Shankar, vice-president.

        Keeping in view of long term capital appreciation, UTI Mutual Fund has come out with a new offer — UTI-India Lifestyle Fund, a three year close-ended scheme.

        Detailing about the new scheme to reporters yesterday, A K Sridhar, chief investment officer, UTI Asset Management Company said, 'the investment objective of the scheme is to provide long-term capital appreciation and income distribution from a diversified portfolio of equity and equity-related instruments of companies that are expected to benefit from changing Indian demographics, lifestyles and rising consumption pattern.'

        'Consumers are showing a marked preference for new products and services that deliver higher levels of quality than conventional items. This has changed the scale of demand for household goods and services such as autos, home goods, telecom, consumer finance, leisure, entertainment, media,' he added.

        'UTI-India Lifestyle Fund endeavours to invest in companies, which benefit directly from changing lifestyles of people of India, Sridhar added.

        The face value of unit is Rs 10 and the plan is open to resident individuals, institutions as well as to NRIs and FIIs. Minimum investment is Rs 5,000 and in multiples of Rs 1 thereafter without any upper limit.

        On maturity, the scheme will automatically be converted into an open-ended scheme.

        The scheme will offer redemption and switch-out of units on an ongoing basis at half-yearly intervals at NAV-based prices.

        The redemption will be available only during the specified redemption period five business days on an half-yearly basis after the closure of NFO.

        The new fund offer which opened on 2 July and closes on 25 July and units will be available for sale only during the NFO period.