The Hindu Business Line : Liquid fund from UTI

UTI Mutual Fund in its new "avatar" launched its first scheme, UTI Liquid Fund. The initial offer period is on June 23 and 24, and the sale of units will re-open from June 27. The face value of units is at Rs 10 per unit.

The Fund is open to resident individuals, institutions as well as NRIs, OCBs and FIIs. Sixty five per cent of the fund will be invested in money market instruments, and 35 per cent in debt instruments (including government securities) above credit rating of AA or equivalent at investment time. The scheme will not invest in equity instruments.

The minimum investment is Rs 1 lakh under the UTI-Liquid Cash Plan and Rs 30,000 under the UTI-Liquid Short Term Plan, or the amount decided by the UTI AMC from time to time. Subsequent minimum additional investment under both plans is Rs 10,000 without any upper limit.

BL Research Bureau

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