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UTI Mutual fund launches UTI Sensex Index Fund

January 19, 2022

UTI Mutual fund launches UTI Sensex Index Fund

The scheme will re-open for subscription and redemption on an ongoing basis from Feb 1, 2022.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as addressed by the underlying index, subject to tracking error. Nonetheless, there is no assurance or guarantee that the investment objective of the scheme will be accomplished.

Sharwan Kumar Goyal is the Fund Manager for the plan.

On the ocassion, Sharwan Kumar Goyal, Head – Passive, Arbitrage and Quant Strategies, said, “UTI Sensex Index Fund is a low cost list fund which will follow the S&P BSE Sensex Index passively. The scheme endeavors to achieve return equivalent to underlying index while minimizing tracking error. The scheme will aim to offer an opportunity to capitalize on growth of basket of blue-chip companies in a disciplined manner.”

UTI Sensex Index fund will offer exposure to diversified portfolio of 30 biggest, most liquid and financially sound organizations across key sectors of the Indian economy. It is appropriate for investors searching for simple yet cost effective way of investing in ‘Top30’ organizations on the listed universe of BSE.

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