UTI Mutual Fund (UTI) launches an open-ended scheme replicating/tracking Nifty Midcap 150 Quality 50 Total Return Index (TRI) - UTI Nifty Midcap 150 Quality 50 Index Fund. The New Fund Offer opens on March 28, 2022 and closes on April 05, 2022. The scheme will re-open for subscription and redemption on ongoing basis from April 15, 2022.
The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the 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.
Mr. Sharwan Kumar Goyal, Head - Passive, Arbitrage & Quant Strategies, UTI AMC, is the Fund Manager for the scheme.
Mr. Goyal commented on the launch, "NIFTY Midcap 150 Quality 50 Index offers a diversified exposure at stock level & maximum weight assigned to each stock is lower of - 5% or 5 times the weight of stock in NIFTY Midcap 150 Index."
"UTI Nifty Midcap 150 Quality 50 Index Fund is a low-cost smart beta index Fund which tracks the NIFTY Midcap 150 Quality 50 Index passively. Our newly launched scheme will endeavors to achieve return equivalent to returns of the underlying index while minimizing tracking error." he added.
Salient features of UTI Nifty Midcap 150 Quality 50 Index Fund
- Investors looking to take exposure in the midcap segment while investing in relatively quality businesses that may generate economic value
- Investors looking for a passive fund which brings disciplined approach to the portfolio construction, while adhering to the defined quality selection process
New Fund Offer Price
During the NFO period, the units of the scheme will be sold at face value i.e., ₹10/- per unit
Minimum Application Amount
Minimum initial investment is ₹5,000/- and in multiples of ₹1/- thereafter. Subsequent minimum investment under a folio is ₹1,000/- and in multiples of ₹1/- thereafter with no upper limit.
Plans and Options Available
Regular Plan and Direct Plan - Both Plan offers Growth Option Only
- Entry Load: NIL
- Exit Load: NIL
Nifty Midcap 150 Quality 50 Total Return Index (TRI)